Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) Given Average Recommendation of “Moderate Buy” by Analysts

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $214.6364.

BLTE has been the subject of a number of analyst reports. Morgan Stanley raised their price objective on shares of Belite Bio from $201.00 to $206.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. HC Wainwright reissued a “buy” rating on shares of Belite Bio in a research report on Thursday. Truist Financial set a $217.00 price objective on shares of Belite Bio in a report on Friday, May 22nd. Mizuho set a $220.00 price objective on Belite Bio in a research report on Friday, August 14th. Finally, UBS Group reiterated a “buy” rating on shares of Belite Bio in a research note on Thursday.

Insider Buying and Selling at Belite Bio

In other Belite Bio news, insider Hendrik Scholl sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $145.24, for a total transaction of $1,452,400.00. Following the completion of the sale, the insider directly owned 15,000 shares of the company’s stock, valued at approximately $2,178,600. This represents a 40.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Hao-Yuan Chuang sold 367 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $180.35, for a total value of $66,188.45. Following the completion of the transaction, the chief financial officer directly owned 93,433 shares in the company, valued at approximately $16,850,641.55. This represents a 0.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 20,732 shares of company stock worth $2,990,116. Insiders own 13.29% of the company’s stock.

Institutional Investors Weigh In On Belite Bio

A number of institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC bought a new stake in Belite Bio in the 2nd quarter valued at $147,000. Marshall Wace LLP bought a new position in shares of Belite Bio during the 2nd quarter valued at about $547,000. BNP Paribas Financial Markets bought a new position in shares of Belite Bio during the 2nd quarter valued at about $190,000. JPMorgan Chase & Co. grew its position in shares of Belite Bio by 45.2% during the third quarter. JPMorgan Chase & Co. now owns 9,809 shares of the company’s stock valued at $726,000 after purchasing an additional 3,052 shares in the last quarter. Finally, UBS Group AG grew its position in shares of Belite Bio by 380.7% during the third quarter. UBS Group AG now owns 11,334 shares of the company’s stock valued at $839,000 after purchasing an additional 8,976 shares in the last quarter. Hedge funds and other institutional investors own 0.53% of the company’s stock.

Belite Bio Stock Performance

NASDAQ BLTE opened at $193.61 on Thursday. Belite Bio has a fifty-two week low of $64.80 and a fifty-two week high of $200.00. The stock has a 50 day simple moving average of $158.96 and a two-hundred day simple moving average of $158.56. The stock has a market cap of $7.80 billion, a P/E ratio of -70.92 and a beta of -1.23.

Belite Bio (NASDAQ:BLTE) last posted its earnings results on Tuesday, June 30th. The company reported ($0.54) EPS for the quarter. Sell-side analysts predict that Belite Bio will post -3.08 earnings per share for the current year.

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.