Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Short Interest Update

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) was the target of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 792,323 shares, a growth of 16.2% from the February 12th total of 681,671 shares. Approximately 2.3% of the shares of the company are sold short. Based on an average daily volume of 155,304 shares, the short-interest ratio is currently 5.1 days. Based on an average daily volume of 155,304 shares, the short-interest ratio is currently 5.1 days. Approximately 2.3% of the shares of the company are sold short.

Institutional Investors Weigh In On Belite Bio

Large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd boosted its stake in Belite Bio by 28,200.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company’s stock valued at $45,000 after buying an additional 282 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Belite Bio during the 4th quarter valued at approximately $103,000. Persistent Asset Partners Ltd purchased a new position in shares of Belite Bio in the fourth quarter valued at $108,000. Bank of America Corp DE grew its holdings in shares of Belite Bio by 28.1% in the third quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock valued at $87,000 after purchasing an additional 257 shares in the last quarter. Finally, Independent Advisor Alliance bought a new stake in Belite Bio in the fourth quarter worth $211,000. 0.53% of the stock is owned by institutional investors.

Belite Bio Trading Down 0.0%

NASDAQ BLTE opened at $161.34 on Thursday. Belite Bio has a 12 month low of $49.00 and a 12 month high of $200.00. The stock has a market cap of $6.35 billion, a PE ratio of -70.15 and a beta of -1.46. The stock’s 50 day moving average is $171.30 and its 200 day moving average is $131.05.

Belite Bio (NASDAQ:BLTE) last released its earnings results on Monday, March 2nd. The company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.56) by $0.18. On average, analysts forecast that Belite Bio will post -1.17 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently issued reports on BLTE. Maxim Group set a $200.00 target price on shares of Belite Bio in a research report on Tuesday, December 2nd. Cantor Fitzgerald lifted their price target on shares of Belite Bio from $200.00 to $266.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Benchmark reissued a “buy” rating on shares of Belite Bio in a research report on Tuesday, March 3rd. BTIG Research set a $187.00 target price on Belite Bio in a research report on Wednesday, December 3rd. Finally, Wall Street Zen raised Belite Bio from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Belite Bio currently has a consensus rating of “Moderate Buy” and an average price target of $202.33.

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.