Belite Bio (NASDAQ:BLTE) Insider Nathan Mata Sells 666 Shares

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Nathan Mata sold 666 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $153.21, for a total transaction of $102,037.86. Following the completion of the transaction, the insider owned 440 shares of the company’s stock, valued at approximately $67,412.40. The trade was a 60.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Belite Bio Price Performance

Shares of NASDAQ:BLTE opened at $154.88 on Friday. The company has a market cap of $6.19 billion, a P/E ratio of -67.34 and a beta of -1.19. The stock’s fifty day moving average price is $166.19 and its 200-day moving average price is $152.99. 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 announced its quarterly earnings results on Monday, March 2nd. The company reported ($0.38) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.56) by $0.18. On average, sell-side analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -2.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BLTE. China Universal Asset Management Co. Ltd. bought a new position in Belite Bio in the 3rd quarter worth $370,000. High Net Worth Advisory Group LLC bought a new stake in Belite Bio during the third quarter valued at about $259,000. Western Standard LLC purchased a new stake in Belite Bio in the fourth quarter worth about $9,602,000. JPMorgan Chase & Co. raised its stake in shares of Belite Bio by 45.2% in the third quarter. JPMorgan Chase & Co. now owns 9,809 shares of the company’s stock worth $726,000 after buying an additional 3,052 shares during the period. Finally, Eventide Asset Management LLC raised its stake in shares of Belite Bio by 96.1% in the fourth quarter. Eventide Asset Management LLC now owns 383,091 shares of the company’s stock worth $61,279,000 after buying an additional 187,779 shares during the period. 0.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BLTE has been the subject of a number of research analyst reports. Needham & Company LLC set a $217.00 target price on shares of 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 report on Saturday, April 4th. Bank of America began coverage on Belite Bio in a research note on Monday, January 26th. They issued a “buy” rating and a $195.00 price target on the stock. Mizuho set a $223.00 price objective on Belite Bio in a research report on Thursday, February 19th. Finally, Morgan Stanley increased their target price on Belite Bio from $191.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, March 3rd. Six research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Belite Bio has an average rating of “Moderate Buy” and an average 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.