Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE – Get Free Report) CEO Yu-Hsin Lin sold 74,435 shares of the company’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $187.71, for a total transaction of $13,972,193.85. Following the sale, the chief executive officer directly owned 96,134 shares of the company’s stock, valued at $18,045,313.14. This represents a 43.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Yu-Hsin Lin also recently made the following trade(s):
- On Tuesday, September 8th, Yu-Hsin Lin sold 26,000 shares of Belite Bio stock. The shares were sold at an average price of $196.56, for a total transaction of $5,110,560.00.
- On Wednesday, August 12th, Yu-Hsin Lin sold 365 shares of Belite Bio stock. The stock was sold at an average price of $180.35, for a total transaction of $65,827.75.
Belite Bio Stock Down 5.0%
Shares of BLTE traded down $9.69 during mid-day trading on Wednesday, reaching $183.16. The company’s stock had a trading volume of 214,121 shares, compared to its average volume of 214,515. Belite Bio, Inc. Sponsored ADR has a 1 year low of $64.80 and a 1 year high of $200.00. The company has a market cap of $7.38 billion, a price-to-earnings ratio of -67.09 and a beta of -1.23. The business has a fifty day moving average of $160.55 and a 200 day moving average of $158.72.
Hedge Funds Weigh In On Belite Bio
Several large investors have recently bought and sold shares of the stock. Darwin Global Management Ltd. acquired a new stake in Belite Bio in the 4th quarter worth $486,915,000. RA Capital Management L.P. acquired a new stake in Belite Bio during the third quarter worth about $64,750,000. RTW Investments LP increased its stake in Belite Bio by 128.9% during the fourth quarter. RTW Investments LP now owns 715,332 shares of the company’s stock valued at $114,425,000 after acquiring an additional 402,832 shares during the period. Millennium Management LLC raised its holdings in Belite Bio by 2,594.6% in the 4th quarter. Millennium Management LLC now owns 558,882 shares of the company’s stock valued at $89,399,000 after acquiring an additional 538,141 shares in the last quarter. Finally, Perceptive Advisors LLC lifted its position in shares of Belite Bio by 732.0% in the 4th quarter. Perceptive Advisors LLC now owns 414,239 shares of the company’s stock worth $66,262,000 after acquiring an additional 364,451 shares during the period. 0.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the company. Mizuho lifted their price target on Belite Bio from $220.00 to $234.00 and gave the company an “outperform” rating in a report on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Belite Bio in a report on Monday, July 6th. Benchmark reaffirmed a “buy” rating on shares of Belite Bio in a research report on Friday, August 14th. Zacks Research downgraded shares of Belite Bio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, HC Wainwright set a $245.00 price target on Belite Bio in a research report on Tuesday. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $218.73.
Check Out Our Latest Report on Belite Bio
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.
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