Artia Global Partners LP Purchases New Holdings in Belite Bio, Inc. Sponsored ADR $BLTE

Artia Global Partners LP purchased a new stake in shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) in the fourth quarter, Holdings Channel reports. The firm purchased 17,989 shares of the company’s stock, valued at approximately $2,878,000.

A number of other large investors have also bought and sold shares of the company. Boothbay Fund Management LLC purchased a new stake in Belite Bio in the fourth quarter worth $1,903,000. ADAR1 Capital Management LLC purchased a new stake in Belite Bio in the fourth quarter worth $6,373,000. MPM Bioimpact LLC purchased a new stake in Belite Bio in the fourth quarter worth $14,038,000. Darwin Global Management Ltd. purchased a new stake in Belite Bio in the fourth quarter worth $486,915,000. Finally, Fred Alger Management LLC purchased a new stake in Belite Bio in the fourth quarter worth $12,700,000. 0.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $200.00 target price on shares of Belite Bio in a research report on Monday. Needham & Company LLC set a $217.00 target price on Belite Bio in a research report on Tuesday, March 3rd. Wall Street Zen raised Belite Bio from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Cantor Fitzgerald lifted their price target on Belite Bio from $200.00 to $266.00 and gave the company an “overweight” rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Belite Bio in a research report on Tuesday, April 7th. Six investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Belite Bio has a consensus rating of “Moderate Buy” and a consensus price target of $203.00.

Insider Buying and Selling

In related news, CEO Yu-Hsin Lin sold 9,200 shares of Belite Bio stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $181.45, for a total transaction of $1,669,340.00. Following the completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hendrik Peter Scholl sold 10,000 shares of Belite Bio stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $140.57, for a total value of $1,405,700.00. Following the sale, the insider directly owned 25,000 shares of the company’s stock, valued at $3,514,250. This represents a 28.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 36,166 shares of company stock valued at $5,954,051 in the last 90 days. Corporate insiders own 13.29% of the company’s stock.

Belite Bio Stock Performance

Shares of NASDAQ BLTE opened at $148.34 on Thursday. The stock has a market cap of $5.95 billion, a PE ratio of -58.63 and a beta of -1.24. Belite Bio, Inc. Sponsored ADR has a fifty-two week low of $56.10 and a fifty-two week high of $200.00. The stock has a fifty day moving average of $152.52 and a 200-day moving average of $159.87.

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

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.