Shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) saw an uptick in trading volume on Monday . 64,433 shares were traded during trading, an increase of 41% from the previous session's volume of 45,791 shares.The stock last traded at $59.00 and had previously closed at $56.81.
Analysts Set New Price Targets
Several brokerages recently weighed in on BLTE. Benchmark restated a "buy" rating and set a $80.00 target price on shares of Belite Bio in a research note on Wednesday, March 26th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Belite Bio in a report on Thursday, May 15th. Wall Street Zen cut Belite Bio from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Finally, HC Wainwright reissued a "buy" rating and issued a $100.00 target price on shares of Belite Bio in a report on Thursday, July 3rd. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $96.67.
Get Our Latest Stock Analysis on Belite Bio
Belite Bio Price Performance
The stock has a 50-day simple moving average of $61.70 and a 200 day simple moving average of $60.47.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC lifted its holdings in shares of Belite Bio by 9,391.6% in the first quarter. GAMMA Investing LLC now owns 122,441 shares of the company's stock valued at $8,108,000 after purchasing an additional 121,151 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in Belite Bio during the first quarter worth approximately $5,538,000. Bank of America Corp DE grew its position in shares of Belite Bio by 36.4% in the fourth 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. JPMorgan Chase & Co. grew 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 valued at $924,000 after purchasing an additional 8,280 shares during the last quarter. Finally, XTX Topco Ltd grew its position 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 valued at $446,000 after purchasing an additional 1,668 shares during the last quarter. 0.53% of the stock is currently owned by institutional investors.
Belite Bio Company Profile
(
Get Free Report)
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.
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