China Universal Asset Management Co. Ltd. Acquires New Position in Belite Bio, Inc. Sponsored ADR $BLTE

China Universal Asset Management Co. Ltd. bought a new position in shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,000 shares of the company’s stock, valued at approximately $370,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in Belite Bio by 45.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 9,809 shares of the company’s stock valued at $726,000 after buying an additional 3,052 shares in the last quarter. High Net Worth Advisory Group LLC bought a new position in shares of Belite Bio in the third quarter worth $259,000. GAMMA Investing LLC grew its position in shares of Belite Bio by 11.1% in the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock valued at $130,000 after purchasing an additional 176 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Belite Bio during the 2nd quarter valued at $190,000. Finally, Marshall Wace LLP purchased a new stake in Belite Bio during the 2nd quarter worth about $547,000. Institutional investors own 0.53% of the company’s stock.

Belite Bio Stock Performance

Belite Bio stock opened at $180.95 on Friday. Belite Bio, Inc. Sponsored ADR has a fifty-two week low of $49.00 and a fifty-two week high of $200.00. The firm’s fifty day moving average price is $164.50 and its 200-day moving average price is $117.33. The stock has a market cap of $6.79 billion, a P/E ratio of -94.24 and a beta of -1.46.

Belite Bio (NASDAQ:BLTE) last released its quarterly earnings results on Monday, December 1st. The company reported $0.95 earnings per share for the quarter. On average, analysts predict that Belite Bio, Inc. Sponsored ADR will post -1.17 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BLTE. Bank of America initiated coverage on Belite Bio in a research report on Monday, January 26th. They set a “buy” rating and a $195.00 price target on the stock. Mizuho set a $223.00 target price on shares of Belite Bio in a report on Thursday. Maxim Group set a $200.00 target price on shares of Belite Bio in a research note on Tuesday, December 2nd. HC Wainwright restated a “buy” rating and set a $185.00 price target on shares of Belite Bio in a research report on Wednesday, January 28th. Finally, Benchmark reiterated a “buy” rating on shares of Belite Bio in a research report on Wednesday, December 3rd. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $183.38.

Belite Bio Company Profile

Belite Bio, Inc (NASDAQ: BLTE) is a clinical-stage biotechnology company focused on discovering and developing small molecule therapeutics for metabolic and inflammatory diseases. Leveraging a proprietary drug-discovery platform, the company aims to address conditions such as nonalcoholic steatohepatitis (NASH) and obesity by targeting pathways involved in fibrosis, inflammation and metabolic regulation.

Belite Bio’s pipeline includes multiple candidates in preclinical and early clinical development stages.