Belite Bio (NASDAQ:BLTE) Sets New 1-Year High at $50.40

Belite Bio, Inc (NASDAQ:BLTE) hit a new 52-week high on Friday . The stock traded as high as $50.40 and last traded at $50.21, with a volume of 40703 shares. The stock had previously closed at $48.65.

Analyst Upgrades and Downgrades

Several research analysts have commented on BLTE shares. Benchmark restated a “buy” rating and set a $57.00 price objective on shares of Belite Bio in a report on Thursday, May 16th. HC Wainwright reaffirmed a “buy” rating and set a $59.00 price objective on shares of Belite Bio in a research report on Thursday, June 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Belite Bio in a research report on Thursday, June 20th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $44.83.

Belite Bio Trading Up 4.0 %

The business’s fifty day moving average price is $47.24 and its 200 day moving average price is $44.43.

Belite Bio (NASDAQ:BLTE) last issued its quarterly earnings data on Monday, May 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.07. On average, research analysts anticipate that Belite Bio, Inc will post -1.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Belite Bio stock. Jump Financial LLC purchased a new stake in shares of Belite Bio, Inc (NASDAQ:BLTE) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 5,200 shares of the company’s stock, valued at approximately $238,000. 0.53% of the stock is currently owned by institutional investors and hedge funds.

About Belite Bio

Belite Bio, Inc, a clinical stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting retinal degenerative eye diseases with unmet medical needs in the United States. The company's lead product candidate is LBS-008 (Tinlarebant), an orally administered once-a-day tablet for maintaining the health and integrity of retinal tissues in autosomal recessive Stargardt disease and geographic atrophy patients.