Nathan Mata Sells 1,000 Shares of Belite Bio (NASDAQ:BLTE) Stock

Key Points

• Nathan Mata sold 1,000 shares of Belite Bio (NASDAQ:BLTE) on May 5 at an average price of $155.50 for $155,500, cutting his stake by 37.51% to 1,666 shares; the sale was disclosed in an SEC filing.
• Shares traded up to $156.21 (market cap ~$6.24B) with a 12‑month range of $56.10–$200.00, and analysts hold a consensus rating of "Moderate Buy" with a consensus price target of $202.33.
• Belite Bio is a clinical‑stage biotechnology company developing small‑molecule therapies for metabolic and inflammatory diseases (including NASH and obesity) and recently reported quarterly EPS of ($0.38), beating estimates.

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) insider Nathan Mata sold 1,000 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $155.50, for a total transaction of $155,500.00. Following the completion of the transaction, the insider directly owned 1,666 shares of the company's stock, valued at approximately $259,063. The trade was a 37.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Belite Bio Trading Up 1.2%

Shares of NASDAQ:BLTE traded up $1.83 during trading on Wednesday, reaching $156.21. The company's stock had a trading volume of 173,941 shares, compared to its average volume of 186,281. Belite Bio, Inc. Sponsored ADR has a 12 month low of $56.10 and a 12 month high of $200.00. The firm's 50 day simple moving average is $167.45 and its two-hundred day simple moving average is $152.03. The stock has a market capitalization of $6.24 billion, a PE ratio of -67.92 and a beta of -1.19.

Belite Bio (NASDAQ:BLTE - Get Free Report) last announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.38) EPS for the quarter, beating analysts' consensus estimates of ($0.56) by $0.18. Research analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BLTE has been the subject of a number of analyst reports. Mizuho set a $223.00 price target on shares of Belite Bio in a report on Thursday, February 19th. Cantor Fitzgerald increased their price objective on shares of Belite Bio from $200.00 to $266.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 3rd. Needham & Company LLC set a $217.00 price objective on shares of Belite Bio in a research report on Tuesday, March 3rd. Benchmark reissued a "buy" rating on shares of Belite Bio in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Belite Bio in a research report on Tuesday, April 7th. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $202.33.

Institutional Trading of Belite Bio

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd raised its position in Belite Bio by 28,200.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company's stock worth $45,000 after purchasing an additional 282 shares during the period. Bank of America Corp DE raised its position in Belite Bio by 28.1% in the 3rd quarter. Bank of America Corp DE now owns 1,171 shares of the company's stock worth $87,000 after purchasing an additional 257 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Belite Bio during the fourth quarter worth approximately $103,000. Persistent Asset Partners Ltd purchased a new position in shares of Belite Bio during the fourth quarter worth approximately $108,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Belite Bio during the second quarter worth approximately $147,000. 0.53% of the stock is owned by hedge funds and other institutional investors.

Belite Bio Company 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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