Belite Bio (NASDAQ:BLTE) CFO Hao-Yuan Chuang Sells 17,962 Shares of Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) CFO Hao-Yuan Chuang sold 17,962 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $196.42, for a total transaction of $3,528,096.04. Following the sale, the chief financial officer directly owned 26,038 shares in the company, valued at $5,114,383.96. This represents a 40.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hao-Yuan Chuang also recently made the following trade(s):

• On Friday, September 4th, Hao-Yuan Chuang sold 49,433 shares of Belite Bio stock. The stock was sold at an average price of $187.64, for a total transaction of $9,275,608.12.
• On Wednesday, August 12th, Hao-Yuan Chuang sold 367 shares of Belite Bio stock. The shares were sold at an average price of $180.35, for a total transaction of $66,188.45.

Belite Bio Price Performance

NASDAQ:BLTE opened at $183.16 on Thursday. The firm has a market cap of $7.38 billion, a PE ratio of -67.09 and a beta of -1.23. The firm has a 50 day simple moving average of $160.55 and a 200-day simple moving average of $158.72. Belite Bio, Inc. Sponsored ADR has a 1-year low of $64.80 and a 1-year high of $200.00.

Belite Bio (NASDAQ:BLTE) last announced its earnings results on Tuesday, June 30th. The company reported ($0.54) earnings per share (EPS) for the quarter. As a group, sell-side analysts expect that Belite Bio, Inc. Sponsored ADR will post -3.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

BLTE has been the subject of a number of recent analyst reports. Zacks Research downgraded Belite Bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Benchmark reiterated a “buy” rating on shares of Belite Bio in a research report on Friday, August 14th. Truist Financial set a $217.00 price target on Belite Bio in a research note on Friday, May 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Belite Bio in a report on Monday, July 6th. Finally, HC Wainwright set a $245.00 price objective on shares of Belite Bio in a research note on Tuesday. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Belite Bio presently has a consensus rating of “Moderate Buy” and an average price target of $218.73.

Belite Bio News Summary

Here are the key news stories impacting Belite Bio this week:

• Positive Sentiment: Belite Bio submitted a New Drug Application in Japan for tinlarebant, its once-daily oral treatment candidate for Stargardt disease type 1. The application was filed under Japan’s Sakigake designation system, which is intended to support expedited development and review of innovative therapies. Stargardt disease affects an estimated 9,500 people in Japan and currently has no approved treatments, strengthening the potential commercial opportunity. Belite Bio Japan NDA announcement
• Positive Sentiment: A bullish Seeking Alpha analysis argues that Belite Bio remains on track for a potential blockbuster launch in 2027, highlighting investor optimism around tinlarebant’s development and future revenue potential. Belite Bio potential 2027 launch analysis
• Positive Sentiment: Technical momentum has improved after BLTE’s 50-day moving average crossed above its 200-day moving average, a bullish “golden cross” that may attract momentum-focused investors. Belite Bio golden cross analysis

Institutional Trading of Belite Bio

Several institutional investors have recently made changes to their positions in BLTE. Caitong International Asset Management Co. Ltd raised its position 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 buying an additional 282 shares during the period. Bank of America Corp DE boosted its holdings in 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 acquiring an additional 257 shares during the last quarter. Persistent Asset Partners Ltd purchased a new stake in Belite Bio during the fourth quarter valued at about $108,000. EverSource Wealth Advisors LLC purchased a new stake in Belite Bio during the second quarter valued at about $147,000. Finally, BNP Paribas Financial Markets purchased a new stake in Belite Bio during the second quarter valued at about $190,000. 0.53% of the stock is owned by hedge funds and other institutional investors.

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.