Shares of Belite Bio, Inc (NASDAQ:BLTE - Get Free Report) saw strong trading volume on Tuesday . 37,274 shares were traded 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 Upgrades and Downgrades
A number of equities analysts have issued reports on the company. Benchmark reaffirmed a "buy" rating and set a $80.00 price target 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 research note on Tuesday, March 18th. Finally, HC Wainwright reiterated a "buy" rating and issued a $100.00 price target on shares of Belite Bio in a research report on Tuesday, March 18th.
View Our Latest Report on BLTE
Belite Bio Trading Up 0.3 %
The company has a market cap of $1.98 billion, a price-to-earnings ratio of -55.38 and a beta of -1.52. The business has a 50-day moving average price of $61.38 and a 200 day moving average price of $62.99.
Belite Bio (NASDAQ:BLTE - Get Free Report) last released its quarterly earnings results on Monday, March 17th. The company reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02). On average, analysts anticipate that Belite Bio, Inc will post -1.17 earnings per share for the current year.
Institutional Investors Weigh In On Belite Bio
A number of large investors have recently made changes to their positions in the company. Advisors Preferred LLC acquired a new stake in Belite Bio during the 4th quarter valued at $52,000. GAMMA Investing LLC raised its position in Belite Bio by 48.1% during the fourth quarter. GAMMA Investing LLC now owns 1,290 shares of the company's stock valued at $81,000 after buying an additional 419 shares during the period. BNP Paribas Financial Markets purchased a new stake in Belite Bio in the 4th quarter worth about $155,000. JPMorgan Chase & Co. boosted its position in Belite Bio by 7,122.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company's stock worth $298,000 after acquiring an additional 6,268 shares during the period. Finally, XTX Topco Ltd grew its stake in Belite Bio by 30.9% during the 4th quarter. XTX Topco Ltd now owns 7,062 shares of the company's stock valued at $446,000 after acquiring an additional 1,668 shares in the last quarter. Institutional investors and hedge funds own 0.53% of the company's stock.
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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