SmartHarvest Portfolios LLC Purchases Shares of 4,184 Belite Bio, Inc. Sponsored ADR $BLTE

SmartHarvest Portfolios LLC acquired a new position in shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 4,184 shares of the company’s stock, valued at approximately $669,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. EverSource Wealth Advisors LLC acquired a new stake in shares of Belite Bio in the 2nd quarter valued at $147,000. Marshall Wace LLP acquired a new stake in shares of Belite Bio during the 2nd quarter worth about $547,000. BNP Paribas Financial Markets bought a new position in Belite Bio during the 2nd quarter valued at about $190,000. JPMorgan Chase & Co. boosted its position in Belite Bio by 45.2% in the third 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. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Belite Bio in the third quarter valued at about $370,000. 0.53% of the stock is owned by institutional investors.

Belite Bio Trading Up 0.2%

Shares of NASDAQ BLTE opened at $136.85 on Friday. Belite Bio, Inc. Sponsored ADR has a 1-year low of $56.10 and a 1-year high of $200.00. The company has a market cap of $5.48 billion, a PE ratio of -54.09 and a beta of -1.24. The company has a 50-day moving average of $154.70 and a two-hundred day moving average of $159.55.

Belite Bio (NASDAQ:BLTE) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.26. As a group, equities research analysts forecast that Belite Bio, Inc. Sponsored ADR will post -3.17 earnings per share for the current year.

Insider Transactions at Belite Bio

In other news, Director Wan-Shan Chen sold 1,100 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $180.43, for a total transaction of $198,473.00. Following the completion of the sale, the director owned 9,096 shares in the company, valued at $1,641,191.28. The trade was a 10.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Hao-Yuan Chuang sold 6,200 shares of the company’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $181.50, for a total value of $1,125,300.00. Following the transaction, the chief financial officer directly owned 93,800 shares in the company, valued at $17,024,700. This trade represents a 6.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 26,166 shares of company stock valued at $4,548,351 over the last 90 days. 13.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

BLTE has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of Belite Bio from $191.00 to $201.00 and gave the stock an “overweight” rating in a report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of Belite Bio in a research report on Tuesday, April 7th. Wall Street Zen raised Belite Bio from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Mizuho cut their price objective on Belite Bio from $223.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, May 26th. Finally, Cantor Fitzgerald boosted their price objective on Belite Bio from $200.00 to $266.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Six 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $203.00.

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.