Belite Bio, Inc (NASDAQ:BLTE) Short Interest Update

Belite Bio, Inc (NASDAQ:BLTE) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 81,300 shares, an increase of 17.1% from the February 13th total of 69,400 shares. Based on an average daily volume of 46,300 shares, the days-to-cover ratio is currently 1.8 days. Currently, 0.3% of the company’s stock are short sold.

Belite Bio Trading Up 0.8 %

NASDAQ BLTE opened at $68.38 on Wednesday. The business’s 50 day moving average is $58.77 and its two-hundred day moving average is $60.61. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of -61.60 and a beta of -1.54. Belite Bio has a 12-month low of $31.01 and a 12-month high of $86.53.

Belite Bio (NASDAQ:BLTE) last released its quarterly earnings data on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.02). Equities analysts forecast that Belite Bio will post -1.17 earnings per share for the current fiscal year.

Institutional Trading of Belite Bio

Several hedge funds and other institutional investors have recently made changes to their positions in BLTE. Advisors Preferred LLC purchased a new position in Belite Bio in the fourth quarter valued at about $52,000. GAMMA Investing LLC grew its holdings in shares of Belite Bio by 48.1% in the 4th quarter. GAMMA Investing LLC now owns 1,290 shares of the company’s stock worth $81,000 after acquiring an additional 419 shares during the period. BNP Paribas Financial Markets purchased a new position in Belite Bio in the 4th quarter valued at approximately $155,000. XTX Topco Ltd acquired a new position in Belite Bio during the third quarter worth $253,000. Finally, JPMorgan Chase & Co. boosted its position in Belite Bio by 7,122.7% during the third quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company’s stock worth $298,000 after purchasing an additional 6,268 shares in the last quarter. Institutional investors and hedge funds own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Belite Bio in a research note on Tuesday. HC Wainwright reaffirmed a “buy” rating and issued a $100.00 target price on shares of Belite Bio in a report on Tuesday. Finally, Benchmark raised their price objective on shares of Belite Bio from $57.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st.

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.