Perceptive Advisors LLC Has $24.23 Million Stock Position in Belite Bio, Inc. Sponsored ADR $BLTE

Perceptive Advisors LLC lessened its holdings in Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) by 63.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 151,979 shares of the company’s stock after selling 262,260 shares during the quarter. Perceptive Advisors LLC’s holdings in Belite Bio were worth $24,232,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd boosted its holdings in Belite Bio by 28,200.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 283 shares of the company’s stock valued at $45,000 after purchasing an additional 282 shares during the period. 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 purchasing an additional 257 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Belite Bio in the fourth quarter valued at approximately $103,000. Persistent Asset Partners Ltd acquired a new stake in shares of Belite Bio in the fourth quarter valued at approximately $108,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Belite Bio in the second quarter valued at approximately $147,000. 0.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on BLTE shares. Weiss Ratings restated a “sell (d-)” rating on shares of Belite Bio in a research note on Monday, July 6th. HC Wainwright reiterated a “buy” rating on shares of Belite Bio in a research report on Wednesday, July 22nd. Wall Street Zen raised Belite Bio from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Zacks Research upgraded Belite Bio from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 20th. Finally, Benchmark reaffirmed a “buy” rating on shares of Belite Bio in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $203.00.

Insider Activity

In other Belite Bio news, insider Nathan L. Mata sold 666 shares of Belite Bio stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $153.21, for a total value of $102,037.86. Following the transaction, the insider owned 440 shares in the company, valued at $67,412.40. The trade was a 60.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Hendrik Peter Scholl sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $145.24, for a total value of $1,452,400.00. Following the transaction, the insider directly owned 15,000 shares of the company’s stock, valued at approximately $2,178,600. The trade was a 40.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 21,666 shares of company stock worth $3,115,638 over the last ninety days. 13.29% of the stock is currently owned by insiders.

Belite Bio Price Performance

Shares of NASDAQ:BLTE opened at $158.61 on Friday. Belite Bio, Inc. Sponsored ADR has a 1 year low of $60.00 and a 1 year high of $200.00. The stock has a market capitalization of $6.36 billion, a price-to-earnings ratio of -62.69 and a beta of -1.23. The company’s 50 day simple moving average is $147.97 and its 200 day simple moving average is $159.32.

Belite Bio (NASDAQ:BLTE) last released its earnings results on Friday, May 15th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.26. As a group, analysts anticipate that Belite Bio, Inc. Sponsored ADR will post -3.17 EPS for the current fiscal year.

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.