Affinity Asset Advisors LLC Grows Holdings in Belite Bio, Inc. Sponsored ADR $BLTE

Affinity Asset Advisors LLC lifted its position in shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) by 225.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 65,000 shares of the company’s stock after buying an additional 45,000 shares during the quarter. Affinity Asset Advisors LLC’s holdings in Belite Bio were worth $10,364,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Darwin Global Management Ltd. purchased a new position in shares of Belite Bio during the fourth quarter valued at approximately $486,915,000. RA Capital Management L.P. acquired a new stake in shares of Belite Bio during the third quarter worth $64,750,000. Millennium Management LLC grew its position in shares of Belite Bio by 2,594.6% in the fourth quarter. Millennium Management LLC now owns 558,882 shares of the company’s stock valued at $89,399,000 after purchasing an additional 538,141 shares during the period. RTW Investments LP increased its stake in Belite Bio by 128.9% in the fourth quarter. RTW Investments LP now owns 715,332 shares of the company’s stock valued at $114,425,000 after purchasing an additional 402,832 shares during the last quarter. Finally, Perceptive Advisors LLC increased its stake in Belite Bio by 732.0% in the fourth quarter. Perceptive Advisors LLC now owns 414,239 shares of the company’s stock valued at $66,262,000 after purchasing an additional 364,451 shares during the last quarter. Institutional investors and hedge funds own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BLTE. Zacks Research raised Belite Bio from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. HC Wainwright reaffirmed a “buy” rating on shares of Belite Bio in a research note on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Belite Bio in a research report on Monday, July 6th. Truist Financial set a $217.00 target price on shares of Belite Bio in a report on Friday, May 22nd. Finally, Mizuho dropped their price target on shares of Belite Bio from $223.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $203.00.

Insider Activity

In related news, insider Hendrik Peter Scholl sold 10,000 shares of Belite Bio 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 sale, the insider owned 15,000 shares in the company, valued at approximately $2,178,600. The trade was a 40.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nathan L. Mata sold 1,000 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $155.50, for a total transaction of $155,500.00. Following the completion of the sale, the insider directly owned 1,666 shares in the company, valued at $259,063. This represents a 37.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 24,666 shares of company stock worth $3,589,878. Insiders own 13.29% of the company’s stock.

Belite Bio Trading Down 1.9%

BLTE opened at $153.36 on Friday. Belite Bio, Inc. Sponsored ADR has a twelve month low of $60.00 and a twelve month high of $200.00. The firm has a market cap of $6.15 billion, a price-to-earnings ratio of -60.62 and a beta of -1.23. The company has a fifty day simple moving average of $146.41 and a 200 day simple moving average of $159.46.

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

Belite Bio 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.