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 firm’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $145.24, for a total value of $1,452,400.00. Following the completion of the transaction, the insider owned 15,000 shares of the company’s stock, valued at approximately $2,178,600. This represents a 40.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hendrik Peter Scholl also recently made the following trade(s):

• On Tuesday, June 16th, Hendrik Peter Scholl sold 10,000 shares of Belite Bio stock. The stock was sold at an average price of $140.57, for a total transaction of $1,405,700.00.

Belite Bio Stock Up 0.7%

Belite Bio stock opened at $147.07 on Tuesday. The firm has a market capitalization of $5.89 billion, a PE ratio of -58.13 and a beta of -1.24. Belite Bio, Inc. Sponsored ADR has a 52 week low of $56.10 and a 52 week high of $200.00. The firm’s 50-day simple moving average is $150.71 and its 200 day simple moving average is $159.86.

Belite Bio (NASDAQ:BLTE) last posted its earnings results on Friday, May 15th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.26. On average, research analysts expect that Belite Bio, Inc. Sponsored ADR will post -3.17 EPS for the current fiscal year.

Institutional Trading of Belite Bio

Hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. acquired a new stake in Belite Bio in the 3rd quarter worth about $370,000. Western Standard LLC purchased a new position in shares of Belite Bio during the 4th quarter worth about $9,602,000. JPMorgan Chase & Co. lifted its holdings 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 worth $726,000 after acquiring an additional 3,052 shares during the period. Eventide Asset Management LLC lifted its holdings in shares of Belite Bio by 96.1% during the 4th quarter. Eventide Asset Management LLC now owns 383,091 shares of the company’s stock worth $61,279,000 after acquiring an additional 187,779 shares during the period. Finally, Artia Global Partners LP acquired a new stake in shares of Belite Bio in the fourth quarter worth approximately $2,878,000. Institutional investors and hedge funds own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BLTE shares. Wall Street Zen upgraded Belite Bio from a “sell” rating to a “hold” rating in a research report on Saturday, April 4th. Needham & Company LLC set a $217.00 target price on Belite Bio in a report on Tuesday, March 3rd. Cantor Fitzgerald raised their price target on Belite Bio from $200.00 to $266.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 3rd. Benchmark reissued a “buy” rating on shares of Belite Bio in a report on Friday, May 22nd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Belite Bio in a research report on Tuesday, April 7th. 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.