Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Short Interest Down 45.2% in December

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totaling 294,199 shares, a decline of 45.2% from the November 30th total of 537,302 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily volume of 362,897 shares, the short-interest ratio is currently 0.8 days. Based on an average daily volume of 362,897 shares, the short-interest ratio is currently 0.8 days. Approximately 0.9% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Benchmark restated a “buy” rating on shares of Belite Bio in a report on Wednesday, December 3rd. Wall Street Zen raised shares of Belite Bio from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Belite Bio in a research note on Wednesday, October 8th. Mizuho set a $194.00 target price on shares of Belite Bio and gave the company an “outperform” rating in a report on Tuesday, December 2nd. Finally, BTIG Research set a $187.00 price target on shares of Belite Bio in a report on Wednesday, December 3rd. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.33.

Institutional Trading of Belite Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE raised its holdings in Belite Bio by 28.1% in the 3rd quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock valued at $87,000 after buying an additional 257 shares during the period. GAMMA Investing LLC raised its holdings in shares of Belite Bio by 11.1% in the 3rd 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. EverSource Wealth Advisors LLC purchased a new stake in Belite Bio during the second quarter worth approximately $147,000. BNP Paribas Financial Markets acquired a new position in shares of Belite Bio in the 2nd quarter valued at $190,000. Finally, Ameriprise Financial Inc. acquired a new stake in Belite Bio during the 3rd quarter worth $224,000. 0.53% of the stock is owned by institutional investors and hedge funds.

Belite Bio Price Performance

NASDAQ:BLTE opened at $154.93 on Monday. The firm has a market capitalization of $5.81 billion, a P/E ratio of -80.69 and a beta of -1.45. Belite Bio has a one year low of $49.00 and a one year high of $162.00. The company’s 50-day simple moving average is $126.91 and its 200 day simple moving average is $87.90.

Belite Bio (NASDAQ:BLTE) last issued its quarterly earnings results on Monday, December 1st. The company reported $0.95 EPS for the quarter. On average, equities research analysts expect that Belite Bio will post -1.17 earnings per share for the current fiscal year.

About Belite Bio

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.