Shares of Belite Bio, Inc (NASDAQ:BLTE - Get Free Report) saw strong trading volume on Tuesday . 37,274 shares changed hands during trading, a decline of 26% from the previous session's volume of 50,262 shares.The stock last traded at $59.00 and had previously closed at $58.23.
Analyst Ratings Changes
Several brokerages have recently issued reports on BLTE. HC Wainwright reaffirmed a "buy" rating and set a $100.00 target price on shares of Belite Bio in a research report on Tuesday, March 18th. Cantor Fitzgerald restated an "overweight" rating on shares of Belite Bio in a report on Tuesday, March 18th. Finally, Benchmark reiterated a "buy" rating and issued a $80.00 target price on shares of Belite Bio in a research note on Wednesday, March 26th.
View Our Latest Analysis on Belite Bio
Belite Bio Trading Up 1.2 %
The firm has a fifty day moving average of $61.52 and a two-hundred day moving average of $63.09. The company has a market cap of $1.99 billion, a PE ratio of -56.45 and a beta of -1.52.
Belite Bio (NASDAQ:BLTE - Get Free Report) last announced its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Sell-side analysts expect that Belite Bio, Inc will post -1.17 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in BLTE. GAMMA Investing LLC grew its holdings in shares of Belite Bio by 43.3% during the 1st quarter. GAMMA Investing LLC now owns 1,849 shares of the company's stock valued at $122,000 after purchasing an additional 559 shares during the last quarter. Bank of America Corp DE boosted its position in 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 buying an additional 4,891 shares during the period. BNP Paribas Financial Markets bought a new position in Belite Bio during the 4th quarter valued at approximately $155,000. XTX Topco Ltd lifted its stake in 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 acquiring an additional 1,668 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Belite Bio by 130.3% during the 4th 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 in the last quarter. 0.53% of the stock is owned by hedge funds and other institutional investors.
About Belite Bio
(
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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