Belite Bio, Inc (NASDAQ:BLTE) Short Interest Update

Belite Bio, Inc (NASDAQ:BLTE - Get Free Report) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 70,000 shares, a drop of 21.5% from the March 15th total of 89,200 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average trading volume of 42,500 shares, the days-to-cover ratio is presently 1.6 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. HC Wainwright restated a "buy" rating and issued a $100.00 price objective on shares of Belite Bio in a research note on Tuesday, March 18th. Benchmark restated a "buy" rating and issued a $80.00 price target on shares of Belite Bio in a research report on Wednesday, March 26th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Belite Bio in a research note on Tuesday, March 18th.

Institutional Investors Weigh In On Belite Bio

Institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in shares of Belite Bio by 43.3% during the first quarter. GAMMA Investing LLC now owns 1,849 shares of the company's stock worth $122,000 after acquiring an additional 559 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Belite Bio by 36.4% during the 4th quarter. Bank of America Corp DE now owns 18,342 shares of the company's stock valued at $1,157,000 after purchasing an additional 4,891 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Belite Bio during the fourth quarter valued at about $155,000. XTX Topco Ltd increased its holdings in shares of Belite Bio by 30.9% in the fourth quarter. XTX Topco Ltd now owns 7,062 shares of the company's stock worth $446,000 after purchasing an additional 1,668 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Belite Bio by 130.3% in the fourth quarter. JPMorgan Chase & Co. now owns 14,636 shares of the company's stock worth $924,000 after buying an additional 8,280 shares in the last quarter. 0.53% of the stock is owned by hedge funds and other institutional investors.

Belite Bio Trading Up 1.8 %

Shares of BLTE traded up $1.05 during trading hours on Thursday, reaching $59.85. 20,494 shares of the stock traded hands, compared to its average volume of 50,381. Belite Bio has a 52-week low of $35.00 and a 52-week high of $86.53. The company has a market cap of $1.91 billion, a P/E ratio of -53.92 and a beta of -1.52. The company's 50-day moving average price is $60.90 and its two-hundred day moving average price is $62.73.

Belite Bio (NASDAQ:BLTE - Get Free Report) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02). On average, research analysts forecast that Belite Bio will post -1.17 EPS for the current year.

About Belite Bio

Belite Bio, Inc, a clinical stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting retinal degenerative eye diseases with unmet medical needs in the United States. The company's lead product candidate is LBS-008 (Tinlarebant), an orally administered once-a-day tablet for maintaining the health and integrity of retinal tissues in autosomal recessive Stargardt disease and geographic atrophy patients.