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

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Nathan Mata sold 1,000 shares of the business’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $163.59, for a total transaction of $163,590.00. Following the completion of the transaction, the insider directly owned 12,666 shares of the company’s stock, valued at approximately $2,072,030.94. This represents a 7.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Belite Bio Stock Performance

Shares of NASDAQ BLTE traded down $0.20 during trading on Tuesday, reaching $165.23. The company had a trading volume of 90,352 shares, compared to its average volume of 200,720. Belite Bio, Inc. Sponsored ADR has a 52 week low of $54.62 and a 52 week high of $200.00. The stock has a market cap of $6.60 billion, a PE ratio of -71.84 and a beta of -1.22. The business’s 50 day moving average price is $170.24 and its 200-day moving average price is $146.82.

Belite Bio (NASDAQ:BLTE) last announced its earnings results on Monday, March 2nd. The company reported ($0.38) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.56) by $0.18. Equities analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -2.2 earnings per share for the current year.

Institutional Investors Weigh In On Belite Bio

Several institutional investors have recently modified their holdings of BLTE. Darwin Global Management Ltd. acquired a new stake in shares of Belite Bio during the 4th quarter worth approximately $486,915,000. RA Capital Management L.P. acquired a new stake in shares of Belite Bio during the 3rd quarter worth approximately $64,750,000. Millennium Management LLC grew its position in shares of Belite Bio by 2,594.6% during the 4th quarter. Millennium Management LLC now owns 558,882 shares of the company’s stock worth $89,399,000 after buying an additional 538,141 shares during the period. RTW Investments LP grew its position in shares of Belite Bio by 128.9% during the 4th quarter. RTW Investments LP now owns 715,332 shares of the company’s stock worth $114,425,000 after buying an additional 402,832 shares during the period. Finally, Perceptive Advisors LLC grew its position in shares of Belite Bio by 732.0% during the 4th quarter. Perceptive Advisors LLC now owns 414,239 shares of the company’s stock worth $66,262,000 after buying an additional 364,451 shares during the period. Institutional investors and hedge funds own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Belite Bio from $191.00 to $201.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Belite Bio in a research note on Tuesday, April 7th. Bank of America assumed coverage on shares of Belite Bio in a research note on Monday, January 26th. They issued a “buy” rating and a $195.00 target price for the company. Benchmark reaffirmed a “buy” rating on shares of Belite Bio in a research note on Tuesday, March 3rd. Finally, Wall Street Zen raised shares of Belite Bio from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $202.33.

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.