Belite Bio, Inc (NASDAQ:BLTE - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $43.20, but opened at $41.71. Belite Bio shares last traded at $42.96, with a volume of 1,212 shares changing hands.
Analyst Upgrades and Downgrades
Separately, HC Wainwright reissued a "buy" rating and set a $59.00 price target on shares of Belite Bio in a research report on Friday, March 22nd. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $44.83.
Read Our Latest Analysis on Belite Bio
Belite Bio Price Performance
The business's fifty day moving average is $40.81 and its 200-day moving average is $42.01. The firm has a market cap of $1.26 billion, a PE ratio of -34.92 and a beta of -1.52.
Belite Bio (NASDAQ:BLTE - Get Free Report) last posted its earnings results on Monday, March 11th. The company reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.11. Analysts forecast that Belite Bio, Inc will post -0.63 EPS for the current year.
Hedge Funds Weigh In On Belite Bio
A hedge fund recently bought a new stake in Belite Bio stock. Armistice Capital LLC bought a new position in Belite Bio, Inc (NASDAQ:BLTE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 36,000 shares of the company's stock, valued at approximately $1,647,000. Armistice Capital LLC owned approximately 0.13% of Belite Bio as of its most recent SEC filing. Institutional investors own 0.53% of the company's stock.
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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