Yu-Hsin Lin Sells 9,200 Shares of Belite Bio (NASDAQ:BLTE) Stock

Key Points

• CEO Yu-Hsin Lin sold 9,200 shares on April 9 at an average price of $181.45 for proceeds of $1,669,340, trimming his stake by 5.11% to 170,934 shares (about $31.02M).
• Belite shares recently traded at $173.18 (up 0.2%) with a market cap of $6.81B and a negative P/E; analysts give a “Moderate Buy” consensus and a target price of $202.33, with some firms projecting up to $266.
• Institutional ownership is very low at 0.53%, although several funds have made small recent purchases or increases in their stakes.

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE - Get Free Report) CEO Yu-Hsin Lin sold 9,200 shares of the business's stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $181.45, for a total value of $1,669,340.00. Following the sale, the chief executive officer owned 170,934 shares of the company's stock, valued at approximately $31,015,974.30. This trade represents a 5.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Belite Bio Stock Up 0.2%

Shares of Belite Bio stock traded up $0.42 on Monday, hitting $173.18. 179,113 shares of the company were exchanged, compared to its average volume of 204,926. The stock has a market capitalization of $6.81 billion, a price-to-earnings ratio of -75.30 and a beta of -1.22. The company has a 50-day moving average price of $172.04 and a 200 day moving average price of $142.81. Belite Bio, Inc. Sponsored ADR has a 1-year low of $53.60 and a 1-year high of $200.00.

Belite Bio (NASDAQ:BLTE - Get Free Report) last issued its earnings results on Monday, March 2nd. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.18. Research analysts forecast that Belite Bio, Inc. Sponsored ADR will post -1.17 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Mizuho set a $223.00 price objective on Belite Bio in a report on Thursday, February 19th. HC Wainwright reiterated a "buy" rating and issued a $200.00 price objective on shares of Belite Bio in a report on Monday. Benchmark reiterated a "buy" rating on shares of Belite Bio in a report on Tuesday, March 3rd. Cantor Fitzgerald upped their price objective on Belite Bio from $200.00 to $266.00 and gave the company an "overweight" rating in a report on Tuesday, March 3rd. Finally, Wall Street Zen upgraded Belite Bio from a "sell" rating to a "hold" rating in a report on Saturday, April 4th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $202.33.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its stake in Belite Bio by 28,200.0% during the fourth 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 in the last quarter. Bank of America Corp DE increased its position in shares of Belite Bio by 28.1% during the third quarter. Bank of America Corp DE now owns 1,171 shares of the company's stock worth $87,000 after acquiring an additional 257 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Belite Bio during the fourth quarter worth $103,000. Persistent Asset Partners Ltd purchased a new stake in shares of Belite Bio during the fourth quarter worth $108,000. Finally, GAMMA Investing LLC increased its holdings in Belite Bio by 11.1% in the third quarter. GAMMA Investing LLC now owns 1,758 shares of the company's stock valued at $130,000 after buying an additional 176 shares during the last quarter. 0.53% of the stock is currently owned by institutional investors and hedge funds.

About Belite Bio

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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