Belite Bio (NASDAQ:BLTE) Insider Sells $162,640.00 in Stock

Key Points

• Insider sale: Nathan Mata sold 1,000 shares at an average price of $162.64 for $162,640, reducing his stake by 11.54% to 7,666 shares (valued about $1.25M).
• Stock movement and valuation: Shares fell 2.7% to $158.73 on Tuesday with 117,480 traded (below the ~193,581 average); the company has a market cap of $6.34B, a negative P/E of -69.01, and a 1‑year range of $56.10–$200.00.
• Analyst and earnings view: Analysts hold a consensus "Moderate Buy" (six Buy, one Hold, one Sell) with an average target of $202.33; Belite beat quarterly EPS estimates ($-0.38 vs. -0.56) but is still expected to report negative full‑year EPS (~-2.2).

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) insider Nathan Mata sold 1,000 shares of the company's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $162.64, for a total value of $162,640.00. Following the sale, the insider owned 7,666 shares of the company's stock, valued at $1,246,798.24. This trade represents a 11.54% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Belite Bio Trading Down 2.7%

Shares of Belite Bio stock traded down $4.33 during trading hours on Tuesday, hitting $158.73. 117,480 shares of the company were exchanged, compared to its average volume of 193,581. Belite Bio, Inc. Sponsored ADR has a 1 year low of $56.10 and a 1 year high of $200.00. The business has a 50-day moving average of $169.13 and a 200-day moving average of $149.87. The stock has a market capitalization of $6.34 billion, a price-to-earnings ratio of -69.01 and a beta of -1.22.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on BLTE shares. Wall Street Zen upgraded Belite Bio from a "sell" rating to a "hold" rating in a research report on Saturday, April 4th. Mizuho set a $223.00 price objective on Belite Bio in a research report on Thursday, February 19th. Morgan Stanley increased their price objective on Belite Bio from $191.00 to $201.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 3rd. Bank of America started coverage on Belite Bio in a research report on Monday, January 26th. They issued a "buy" rating and a $195.00 price objective for the company. Finally, Benchmark reiterated a "buy" rating on shares of Belite Bio in a research report on Tuesday, March 3rd. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $202.33.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its position in Belite Bio by 28,200.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company's stock worth $45,000 after acquiring an additional 282 shares in the last quarter. Bank of America Corp DE grew its holdings in Belite Bio by 28.1% in the third quarter. Bank of America Corp DE now owns 1,171 shares of the company's stock valued at $87,000 after purchasing an additional 257 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Belite Bio in the fourth quarter valued at $103,000. Persistent Asset Partners Ltd acquired a new stake in Belite Bio in the fourth quarter valued at $108,000. Finally, EverSource Wealth Advisors LLC acquired a new stake in Belite Bio in the second quarter valued at $147,000. Hedge funds and other institutional investors own 0.53% of the company's stock.

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.

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