Belite Bio (NASDAQ:BLTE) CFO Hao-Yuan Chuang Sells 49,433 Shares of Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) CFO Hao-Yuan Chuang sold 49,433 shares of the stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $187.64, for a total transaction of $9,275,608.12. Following the completion of the transaction, the chief financial officer directly owned 44,000 shares of the company’s stock, valued at $8,256,160. The trade was a 52.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, September 8th, Hao-Yuan Chuang sold 17,962 shares of Belite Bio stock. The shares were sold at an average price of $196.42, for a total transaction of $3,528,096.04.
• On Wednesday, August 12th, Hao-Yuan Chuang sold 367 shares of Belite Bio stock. The stock was sold at an average price of $180.35, for a total value of $66,188.45.

Belite Bio Stock Down 5.0%

Shares of NASDAQ BLTE opened at $183.16 on Thursday. The business’s 50 day moving average price is $160.55 and its 200 day moving average price is $158.72. Belite Bio, Inc. Sponsored ADR has a 52 week low of $64.80 and a 52 week high of $200.00. The firm has a market cap of $7.38 billion, a P/E ratio of -67.09 and a beta of -1.23.

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

Hedge Funds Weigh In On Belite Bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Engineers Gate Manager LP lifted its stake in Belite Bio by 11.4% in the second quarter. Engineers Gate Manager LP now owns 2,773 shares of the company’s stock worth $427,000 after acquiring an additional 284 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Belite Bio by 104.0% during the 1st quarter. Bank of America Corp DE now owns 3,778 shares of the company’s stock worth $602,000 after acquiring an additional 1,926 shares in the last quarter. Amundi purchased a new position in shares of Belite Bio in the 1st quarter valued at about $671,000. Royal Bank of Canada increased its holdings in shares of Belite Bio by 7.9% in the 1st quarter. Royal Bank of Canada now owns 2,257 shares of the company’s stock valued at $360,000 after acquiring an additional 165 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Belite Bio during the first quarter worth approximately $3,125,000. Hedge funds and other institutional investors own 0.53% of the company’s stock.

Belite Bio News Roundup

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

Analysts Set New Price Targets

BLTE has been the subject of a number of recent analyst reports. Cantor Fitzgerald boosted their price objective on Belite Bio from $266.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Truist Financial set a $217.00 price target on shares of Belite Bio in a research report on Friday, May 22nd. UBS Group reissued a “buy” rating on shares of Belite Bio in a research note on Thursday, September 3rd. Canaccord Genuity Group began coverage on Belite Bio in a report on Friday, September 4th. They issued a “buy” rating and a $303.00 price objective on the stock. Finally, HC Wainwright set a $245.00 target price on shares of Belite Bio in a research note on Tuesday. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $218.73.

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.