Belite Bio, Inc. Sponsored ADR $BLTE Shares Acquired by Affinity Asset Advisors LLC

Key Points

• Affinity Asset Advisors LLC increased its Belite Bio stake by 225% in the first quarter, buying 45,000 additional shares and bringing its holdings to 65,000 shares worth about $10.4 million.
• Analyst sentiment is mixed but generally positive: the stock has a Moderate Buy consensus, with one Strong Buy, six Buy ratings, and one Sell rating, alongside an average price target of $203.
• Belite Bio reported a smaller-than-expected quarterly loss of ($0.34) per share, while insiders have recently sold shares and the stock was trading around $153.36, below its 52-week high of $200.

Affinity Asset Advisors LLC lifted its position in Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Free Report) by 225.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,000 shares of the company's stock after buying an additional 45,000 shares during the quarter. Affinity Asset Advisors LLC owned approximately 0.16% of Belite Bio worth $10,364,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its stake in shares of 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 raised 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 acquiring an additional 257 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in Belite Bio during the 4th quarter worth approximately $103,000. Persistent Asset Partners Ltd acquired a new position in Belite Bio during the 4th quarter worth approximately $108,000. Finally, EverSource Wealth Advisors LLC purchased a new stake in shares of Belite Bio in the 2nd quarter valued at approximately $147,000. Institutional investors and hedge funds own 0.53% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Belite Bio in a report on Monday, July 6th. Zacks Research upgraded Belite Bio from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 20th. Wall Street Zen raised Belite Bio from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. HC Wainwright reiterated a "buy" rating on shares of Belite Bio in a research note on Wednesday. Finally, Mizuho dropped their price target on shares of Belite Bio from $223.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, Belite Bio presently has an average rating of "Moderate Buy" and an average price target of $203.00.

Insider Buying and Selling at Belite Bio

In other news, insider Nathan L. Mata sold 1,000 shares of Belite Bio stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $155.50, for a total transaction of $155,500.00. Following the completion of the transaction, the insider owned 1,666 shares of the company's stock, valued at $259,063. The trade was a 37.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Hendrik Peter Scholl sold 10,000 shares of the business's stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.24, for a total transaction of $1,452,400.00. Following the completion of the sale, the insider owned 15,000 shares in the company, valued at $2,178,600. This represents a 40.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 24,666 shares of company stock valued at $3,589,878. 13.29% of the stock is currently owned by insiders.

Belite Bio Stock Down 1.9%

Shares of BLTE opened at $153.36 on Friday. Belite Bio, Inc. Sponsored ADR has a 52-week low of $60.00 and a 52-week high of $200.00. The company has a 50-day simple moving average of $146.41 and a 200-day simple moving average of $159.46. The company has a market capitalization of $6.15 billion, a PE ratio of -60.62 and a beta of -1.23.

Belite Bio (NASDAQ:BLTE - Get Free Report) last issued its earnings results on Friday, May 15th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.26. On average, research analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -3.17 EPS for the current year.

Belite Bio 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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