Belite Bio (NASDAQ:BLTE) Insider Hendrik Peter Scholl Sells 10,000 Shares of Stock

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) insider Hendrik Peter Scholl sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider directly owned 25,000 shares of the company’s stock, valued at approximately $3,514,250. This trade represents a 28.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Belite Bio Price Performance

Shares of BLTE stock opened at $148.34 on Thursday. The business has a 50-day moving average of $152.52 and a 200 day moving average of $159.87. Belite Bio, Inc. Sponsored ADR has a 1-year low of $56.10 and a 1-year high of $200.00. The stock has a market capitalization of $5.95 billion, a PE ratio of -58.63 and a beta of -1.24.

Belite Bio (NASDAQ:BLTE) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.26. Analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -3.17 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BLTE. EverSource Wealth Advisors LLC bought a new position in Belite Bio in the 2nd quarter worth $147,000. Marshall Wace LLP bought a new stake in shares of Belite Bio during the 2nd quarter valued at about $547,000. BNP Paribas Financial Markets bought a new stake in shares of Belite Bio during the 2nd quarter valued at about $190,000. JPMorgan Chase & Co. boosted its stake in shares of Belite Bio by 45.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,809 shares of the company’s stock valued at $726,000 after purchasing an additional 3,052 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. purchased a new position in shares of Belite Bio during the third quarter valued at about $370,000. 0.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BLTE has been the subject of a number of recent analyst reports. Mizuho lowered their price target on shares of Belite Bio from $223.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, May 26th. Needham & Company LLC set a $217.00 price target on shares of Belite Bio in a report on Tuesday, March 3rd. Wall Street Zen upgraded shares of Belite Bio from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. HC Wainwright reaffirmed a “buy” rating and set a $200.00 price objective on shares of Belite Bio in a research note on Monday. Finally, Truist Financial set a $217.00 target price on shares of Belite Bio in a report on Friday, May 22nd. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $203.00.

Belite Bio Company Profile

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.