UBS Group AG Purchases 117,418 Shares of Belite Bio, Inc. Sponsored ADR $BLTE

UBS Group AG increased its position in shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) by 1,036.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,752 shares of the company’s stock after purchasing an additional 117,418 shares during the quarter. UBS Group AG’s holdings in Belite Bio were worth $20,595,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. acquired a new position in Belite Bio in the fourth quarter valued at about $103,000. Bank of America Corp DE increased its holdings in shares of Belite Bio by 28.1% during the third quarter. Bank of America Corp DE now owns 1,171 shares of the company’s stock worth $87,000 after buying an additional 257 shares in the last quarter. Yeomans Consulting Group Inc. bought a new position in shares of Belite Bio in the fourth quarter valued at approximately $384,000. EverSource Wealth Advisors LLC bought a new position in shares of Belite Bio in the second quarter valued at approximately $147,000. Finally, SG Americas Securities LLC acquired a new position in shares of Belite Bio in the 4th quarter worth approximately $441,000. 0.53% of the stock is owned by institutional investors.

Belite Bio Price Performance

Shares of Belite Bio stock opened at $151.97 on Tuesday. The firm has a 50 day simple moving average of $164.79 and a 200 day simple moving average of $153.86. Belite Bio, Inc. Sponsored ADR has a fifty-two week low of $56.10 and a fifty-two week high of $200.00. The firm has a market cap of $6.07 billion, a P/E ratio of -66.07 and a beta of -1.19.

Belite Bio (NASDAQ:BLTE) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.18. On average, sell-side analysts expect that Belite Bio, Inc. Sponsored ADR will post -2.2 EPS for the current year.

Insider Buying and Selling at Belite Bio

In other news, insider Nathan L. Mata sold 666 shares of the company’s stock in a transaction 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 transaction, the insider owned 440 shares of the company’s stock, valued at $67,412.40. This represents a 60.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 26,166 shares of company stock worth $4,548,351 in the last ninety days. Insiders own 13.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on BLTE. Bank of America assumed coverage on Belite Bio in a research report on Monday, January 26th. They set a “buy” rating and a $195.00 price target on the stock. HC Wainwright reissued a “buy” rating and issued a $200.00 price objective on shares of Belite Bio in a research note on Wednesday, April 22nd. Needham & Company LLC set a $217.00 target price on Belite Bio in a report on Tuesday, March 3rd. Mizuho set a $223.00 price target on Belite Bio in a report on Thursday, February 19th. Finally, Benchmark reiterated a “buy” rating on shares of Belite Bio in a research report on Tuesday, March 3rd. Six equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.