Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE – Get Free Report) insider Hendrik Scholl sold 500 shares of the business’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $165.32, for a total value of $82,660.00. Following the completion of the transaction, the insider directly owned 14,500 shares of the company’s stock, valued at approximately $2,397,140. This trade represents a 3.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Belite Bio Stock Up 0.3%
BLTE opened at $156.08 on Thursday. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of -57.17 and a beta of -1.23. Belite Bio, Inc. Sponsored ADR has a twelve month low of $76.50 and a twelve month high of $200.00. The company has a 50-day simple moving average of $166.56 and a 200 day simple moving average of $157.68.
Belite Bio (NASDAQ:BLTE – Get Free Report) last released its earnings results on Tuesday, June 30th. The company reported ($0.54) EPS for the quarter. Sell-side analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -3.08 EPS for the current fiscal year.
Analyst Ratings Changes
Get Our Latest Stock Report on BLTE
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of BLTE. Engineers Gate Manager LP grew its holdings in Belite Bio by 11.4% during the 2nd quarter. Engineers Gate Manager LP now owns 2,773 shares of the company’s stock worth $427,000 after acquiring an additional 284 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Belite Bio by 104.0% during the first quarter. Bank of America Corp DE now owns 3,778 shares of the company’s stock worth $602,000 after purchasing an additional 1,926 shares during the period. Amundi acquired a new position in shares of Belite Bio during the first quarter worth $671,000. Royal Bank of Canada grew its stake in shares of Belite Bio by 7.9% in the first quarter. Royal Bank of Canada now owns 2,257 shares of the company’s stock worth $360,000 after purchasing an additional 165 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Belite Bio in the first quarter valued at $3,125,000. 0.53% of the stock is currently owned by institutional investors.
Belite Bio Company Profile
Belite Bio, Inc is a clinical-stage biotechnology company focused on developing therapies for retinal diseases that can lead to vision loss. The company’s research centers on addressing biological processes associated with the accumulation of toxic vitamin A byproducts in the eye.
Belite Bio’s lead product candidate is tinlarebant, also known as LBS-008, an orally administered retinol-binding protein 4 antagonist. The company is evaluating tinlarebant for Stargardt disease, an inherited retinal disorder, and geographic atrophy associated with dry age-related macular degeneration.
Founded in 2018 and headquartered in San Diego, California, Belite Bio conducts clinical development activities for its retinal disease programs.
See Also
- Five stocks we like better than Belite Bio
- Skydance Just Became a Media Giant—With an $80 Billion Debt Load
- Could Velo3D Be the Next Defense Buyout Target?
- Penguin Solutions Is Soaring as AI Memory Demand Explodes
- Alphabet’s Chart Is Coiling—and the Fundamentals May Be Ready to Back It Up
Receive News & Ratings for Belite Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Belite Bio and related companies with MarketBeat.com's FREE daily email newsletter.
