Belite Bio (NASDAQ:BLTE) Insider Sells $1,452,400.00 in Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Hendrik Peter Scholl sold 10,000 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $145.24, for a total value of $1,452,400.00. Following the transaction, the insider directly owned 15,000 shares of the company’s stock, valued at approximately $2,178,600. This trade represents a 40.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Hendrik Peter Scholl also recently made the following trade(s):

• On Tuesday, June 16th, Hendrik Peter Scholl sold 10,000 shares of Belite Bio stock. The stock was sold at an average price of $140.57, for a total value of $1,405,700.00.

Belite Bio Price Performance

Shares of BLTE opened at $150.77 on Thursday. The firm has a market cap of $6.04 billion, a PE ratio of -59.59 and a beta of -1.24. The stock’s fifty day moving average price is $149.71 and its two-hundred day moving average price is $159.81. Belite Bio, Inc. Sponsored ADR has a 1 year low of $56.10 and a 1 year high of $200.00.

Belite Bio (NASDAQ:BLTE) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.26. Sell-side analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -3.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have weighed in on BLTE. Weiss Ratings reiterated a “sell (d-)” rating on shares of Belite Bio in a research report on Tuesday, April 7th. Benchmark reissued a “buy” rating on shares of Belite Bio in a research report on Friday, May 22nd. Morgan Stanley upped their price target on shares of Belite Bio from $191.00 to $201.00 and gave the company an “overweight” rating in a research note on Tuesday, March 3rd. Mizuho cut their price objective on shares of Belite Bio from $223.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, May 26th. Finally, Needham & Company LLC set a $217.00 price objective on shares of Belite Bio in a research note on Tuesday, March 3rd. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $203.00.

Institutional Investors Weigh In On Belite Bio

A number of institutional investors and hedge funds have recently modified their holdings of BLTE. Caitong International Asset Management Co. Ltd grew 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 valued at $45,000 after acquiring an additional 282 shares in the last quarter. Bank of America Corp DE lifted its stake 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in Belite Bio in the 4th quarter valued at $103,000. Persistent Asset Partners Ltd bought a new position in Belite Bio in the 4th quarter valued at $108,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Belite Bio during the 2nd quarter valued at $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.