Belite Bio (NASDAQ:BLTE) Insider Hendrik Peter Scholl Sells 500 Shares of Company Stock

by · The Markets Daily

Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE – Get Free Report) insider Hendrik Scholl sold 500 shares of Belite Bio stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $165.32, for a total transaction of $82,660.00. Following the transaction, the insider directly owned 14,500 shares of the company’s stock, valued at $2,397,140. This represents a 3.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Belite Bio Stock Performance

Belite Bio stock traded down $0.38 during trading hours on Monday, hitting $159.18. 133,264 shares of the stock were exchanged, compared to its average volume of 175,497. The stock has a market capitalization of $6.41 billion, a P/E ratio of -58.31 and a beta of -1.23. The business’s 50-day moving average is $166.50 and its two-hundred day moving average is $157.74. Belite Bio, Inc. Sponsored ADR has a 12 month low of $75.95 and a 12 month high of $200.00.

Belite Bio (NASDAQ:BLTE – Get Free Report) last announced its earnings results on Tuesday, June 30th. The company reported ($0.54) EPS for the quarter. On average, equities analysts predict that Belite Bio, Inc. Sponsored ADR will post -3.08 earnings per share for the current fiscal year.

Institutional Trading of Belite Bio

Large investors have recently made changes to their positions in the company. Engineers Gate Manager LP raised its stake in Belite Bio by 11.4% during the 2nd quarter. Engineers Gate Manager LP now owns 2,773 shares of the company’s stock worth $427,000 after buying an additional 284 shares during the period. Bank of America Corp DE grew its stake in Belite Bio by 104.0% in the first quarter. Bank of America Corp DE now owns 3,778 shares of the company’s stock valued at $602,000 after acquiring an additional 1,926 shares during the period. Amundi acquired a new position in Belite Bio in the first quarter valued at about $671,000. Royal Bank of Canada increased its holdings in shares of Belite Bio by 7.9% in the first quarter. Royal Bank of Canada now owns 2,257 shares of the company’s stock worth $360,000 after acquiring an additional 165 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Belite Bio during the first quarter worth about $3,125,000. Institutional investors own 0.53% of the company’s stock.

Analyst Ratings Changes

BLTE has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Belite Bio in a report on Friday. Jefferies Financial Group restated a “hold” rating on shares of Belite Bio in a research report on Wednesday, September 9th. UBS Group reaffirmed a “buy” rating on shares of Belite Bio in a research note on Thursday, September 3rd. Canaccord Genuity Group assumed coverage on shares of Belite Bio in a research note on Friday, September 4th. They set a “buy” rating and a $303.00 price target on the stock. Finally, Cantor Fitzgerald raised their price target on shares of Belite Bio from $266.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.73.

Check Out Our Latest Report on BLTE

Belite Bio Company Profile

(Get Free Report)

Belite Bio, Inc is a clinical-stage biotechnology company focused on developing therapies for retinal diseases that can lead to vision loss. The company’s research centers on addressing biological processes associated with the accumulation of toxic vitamin A byproducts in the eye.

Belite Bio’s lead product candidate is tinlarebant, also known as LBS-008, an orally administered retinol-binding protein 4 antagonist. The company is evaluating tinlarebant for Stargardt disease, an inherited retinal disorder, and geographic atrophy associated with dry age-related macular degeneration.

Founded in 2018 and headquartered in San Diego, California, Belite Bio conducts clinical development activities for its retinal disease programs.

Recommended Stories