Belite Bio (NASDAQ:BLTE) Insider Nathan Mata Sells 1,000 Shares

Key Points

• Insider sale: Nathan Mata sold 1,000 shares on April 20 at an average price of $163.59 for $163,590, reducing his stake by 7.32% to 12,666 shares (valued at about $2.07M).
• Stock snapshot: BLTE traded near $165.23 with a $6.6B market cap and a negative PE (-71.84); the 50‑day SMA ($170.24) is above the current price, the 200‑day SMA ($146.82) is below, and the 12‑month range is $54.62–$200.00.
• Analyst sentiment: The consensus rating is "Moderate Buy" (six Buys, one Hold, one Sell) with a consensus target of $202.33, while recent notable targets include Bank of America at $195 and Cantor Fitzgerald at $266.

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) insider Nathan Mata sold 1,000 shares of the firm's stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $163.59, for a total transaction of $163,590.00. Following the transaction, the insider directly owned 12,666 shares of the company's stock, valued at $2,072,030.94. The trade was a 7.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Belite Bio Stock Performance

Shares of NASDAQ:BLTE traded down $0.20 during midday trading on Tuesday, reaching $165.23. 90,352 shares of the company's stock were exchanged, compared to its average volume of 200,720. The company's 50 day simple moving average is $170.24 and its two-hundred day simple moving average is $146.82. The firm has a market capitalization of $6.60 billion, a PE ratio of -71.84 and a beta of -1.22. Belite Bio, Inc. Sponsored ADR has a 12 month low of $54.62 and a 12 month high of $200.00.

Belite Bio (NASDAQ:BLTE - Get Free Report) last released its quarterly earnings data on Monday, March 2nd. The company reported ($0.38) EPS for the quarter, topping analysts' consensus estimates of ($0.56) by $0.18. On average, research analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -2.2 earnings per share for the current year.

Hedge Funds Weigh In On Belite Bio

Several institutional investors have recently added to or reduced their stakes in BLTE. EverSource Wealth Advisors LLC bought a new position in Belite Bio during the 2nd quarter valued at about $147,000. Marshall Wace LLP bought a new position in Belite Bio during the 2nd quarter valued at about $547,000. BNP Paribas Financial Markets bought a new position in Belite Bio during the 2nd quarter valued at about $190,000. GAMMA Investing LLC lifted its holdings in Belite Bio by 11.1% during the 3rd quarter. GAMMA Investing LLC now owns 1,758 shares of the company's stock valued at $130,000 after purchasing an additional 176 shares during the last quarter. Finally, High Net Worth Advisory Group LLC bought a new position in Belite Bio during the 3rd quarter valued at about $259,000. 0.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Belite Bio in a report on Tuesday, April 7th. Bank of America assumed coverage on shares of Belite Bio in a report on Monday, January 26th. They set a "buy" rating and a $195.00 price objective for the company. Cantor Fitzgerald raised their price objective on shares of Belite Bio from $200.00 to $266.00 and gave the stock an "overweight" rating in a report on Tuesday, March 3rd. Benchmark reaffirmed a "buy" rating on shares of Belite Bio in a report on Tuesday, March 3rd. Finally, Wall Street Zen raised shares of Belite Bio from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $202.33.

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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