Belite Bio (NASDAQ:BLTE) Insider Sells $155,780.00 in Stock

Key Points

• Insider sale: Nathan Mata sold 1,000 shares on May 1 at an average price of $155.78 for proceeds of $155,780, reducing his ownership by 21.43% to 3,666 shares (worth about $571,089).
• Stock snapshot: shares traded at $154.51 with a market cap of $6.17 billion, a 50‑day/200‑day SMA of $167.98/$151.52, a 52‑week range of $56.10–$200.00, and a negative PE of -67.18.
• Analyst and earnings context: analysts rate BLTE a "Moderate Buy" (six Buys, one Hold, one Sell) with an average price target of $202.33; the company beat the latest quarterly EPS estimate ($-0.38 vs. -$0.56) but is still forecast to report about -2.2 EPS for the year.

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) insider Nathan Mata sold 1,000 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $155.78, for a total transaction of $155,780.00. Following the completion of the transaction, the insider owned 3,666 shares of the company's stock, valued at approximately $571,089.48. The trade was a 21.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Belite Bio Stock Performance

Shares of Belite Bio stock traded down $0.34 during trading on Monday, hitting $154.51. The company's stock had a trading volume of 96,847 shares, compared to its average volume of 187,596. The company has a fifty day simple moving average of $167.98 and a two-hundred day simple moving average of $151.52. The company has a market capitalization of $6.17 billion, a PE ratio of -67.18 and a beta of -1.19. Belite Bio, Inc. Sponsored ADR has a 52 week low of $56.10 and a 52 week high of $200.00.

Belite Bio (NASDAQ:BLTE - Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.18. As a group, analysts predict that Belite Bio, Inc. Sponsored ADR will post -2.2 EPS for the current year.

Hedge Funds Weigh In On Belite Bio

Several institutional investors have recently made changes to their positions in BLTE. Caitong International Asset Management Co. Ltd lifted its stake 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 purchasing an additional 282 shares during the period. Bank of America Corp DE lifted its stake in shares of Belite Bio by 28.1% in the 3rd quarter. Bank of America Corp DE now owns 1,171 shares of the company's stock worth $87,000 after purchasing an additional 257 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Belite Bio in the 4th quarter worth approximately $103,000. Persistent Asset Partners Ltd bought a new position in shares of Belite Bio in the 4th quarter worth approximately $108,000. Finally, EverSource Wealth Advisors LLC bought a new position in shares of Belite Bio in the 2nd quarter worth approximately $147,000. Institutional investors own 0.53% of the company's stock.

Wall Street Analysts Forecast Growth

BLTE has been the topic of several recent analyst reports. Bank of America initiated coverage on shares of Belite Bio in a research report on Monday, January 26th. They set a "buy" rating and a $195.00 price objective on the stock. Benchmark reissued a "buy" rating on shares of Belite Bio in a research report on Tuesday, March 3rd. Cantor Fitzgerald increased their price objective on shares of Belite Bio from $200.00 to $266.00 and gave the company an "overweight" rating in a research report on Tuesday, March 3rd. Morgan Stanley increased their price objective on shares of Belite Bio from $191.00 to $201.00 and gave the company an "overweight" rating in a research report on Tuesday, March 3rd. Finally, Mizuho set a $223.00 price objective on shares of Belite Bio in a research report on Thursday, February 19th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Belite Bio currently has an average rating of "Moderate Buy" and an average price target 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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