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

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) was the recipient of a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 585,301 shares, an increase of 49.4% from the January 15th total of 391,677 shares. Approximately 1.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 208,978 shares, the days-to-cover ratio is currently 2.8 days. Based on an average daily trading volume, of 208,978 shares, the days-to-cover ratio is currently 2.8 days. Approximately 1.8% of the shares of the stock are short sold.

Belite Bio Trading Up 0.4%

NASDAQ:BLTE traded up $0.65 on Friday, hitting $175.26. The company’s stock had a trading volume of 118,299 shares, compared to its average volume of 205,172. Belite Bio has a one year low of $49.00 and a one year high of $200.00. The stock has a fifty day moving average of $161.54 and a two-hundred day moving average of $113.45. The firm has a market capitalization of $6.57 billion, a P/E ratio of -91.28 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. As a group, sell-side analysts anticipate that Belite Bio will post -1.17 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on BLTE. BTIG Research set a $187.00 price target on shares of Belite Bio in a report on Wednesday, December 3rd. Bank of America started coverage on shares of Belite Bio in a research note on Monday, January 26th. They set a “buy” rating and a $195.00 target price for the company. Wall Street Zen cut Belite Bio from a “hold” rating to a “sell” rating in a report on Sunday, January 4th. Mizuho set a $194.00 price target on shares of Belite Bio and gave the company an “outperform” rating in a report on Tuesday, December 2nd. Finally, HC Wainwright restated a “buy” rating and set a $185.00 target price on shares of Belite Bio in a report on Wednesday, January 28th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Belite Bio has a consensus rating of “Moderate Buy” and an average price target of $179.75.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of Belite Bio by 28,200.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company’s stock worth $45,000 after acquiring an additional 282 shares during the last quarter. Bank of America Corp DE lifted 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. Mirae Asset Global Investments Co. Ltd. bought a new stake in Belite Bio during the fourth quarter worth $103,000. GAMMA Investing LLC boosted its holdings in Belite Bio by 11.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,758 shares of the company’s stock worth $130,000 after acquiring an additional 176 shares during the last quarter. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of Belite Bio in the second quarter valued at about $147,000. Institutional investors and hedge funds own 0.53% of the company’s stock.

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.