Belite Bio, Inc. Sponsored ADR $BLTE Shares Acquired by Perceptive Advisors LLC

Perceptive Advisors LLC increased its position in Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) by 732.0% during the fourth quarter, Holdings Channel reports. The fund owned 414,239 shares of the company’s stock after purchasing an additional 364,451 shares during the quarter. Belite Bio comprises approximately 1.2% of Perceptive Advisors LLC’s investment portfolio, making the stock its 28th largest position. Perceptive Advisors LLC’s holdings in Belite Bio were worth $66,262,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BLTE. Caitong International Asset Management Co. Ltd increased 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 period. Bank of America Corp DE increased its holdings in shares of Belite Bio by 28.1% in the 3rd quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock worth $87,000 after acquiring an additional 257 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Belite Bio in the 4th quarter worth about $103,000. Persistent Asset Partners Ltd acquired a new stake in shares of Belite Bio in the 4th quarter worth about $108,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in shares of Belite Bio in the 2nd quarter worth about $147,000. Institutional investors and hedge funds own 0.53% of the company’s stock.

Belite Bio Price Performance

Shares of BLTE opened at $148.34 on Thursday. Belite Bio, Inc. Sponsored ADR has a one year low of $56.10 and a one year high of $200.00. The company has a 50-day moving average of $152.52 and a two-hundred day moving average of $159.87. The stock has a market cap of $5.95 billion, a price-to-earnings ratio of -58.63 and a beta of -1.24.

Belite Bio (NASDAQ:BLTE) last announced its earnings results on Friday, May 15th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.60) by $0.26. Analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -3.17 earnings per share for the current year.

Wall Street Analyst Weigh In

BLTE has been the topic of several research analyst reports. Morgan Stanley raised their target price on shares of Belite Bio from $191.00 to $201.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Needham & Company LLC set a $217.00 target price on shares of Belite Bio in a research note on Tuesday, March 3rd. Cantor Fitzgerald raised their target price on shares of Belite Bio from $200.00 to $266.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Benchmark reissued a “buy” rating on shares of Belite Bio in a research note on Friday, May 22nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Belite Bio in a research note on Tuesday, April 7th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $203.00.

Insider Buying and Selling

In other Belite Bio news, insider Hendrik Peter Scholl sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $140.57, for a total value of $1,405,700.00. Following the completion of the transaction, the insider directly owned 25,000 shares in the company, valued at $3,514,250. This trade represents a 28.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Nathan L. Mata sold 1,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $155.78, for a total transaction of $155,780.00. Following the completion of the transaction, the insider owned 3,666 shares of the company’s stock, valued at approximately $571,089.48. The trade was a 21.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 36,166 shares of company stock valued at $5,954,051. Company insiders own 13.29% 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.