Advisors Preferred LLC Purchases New Shares in Belite Bio, Inc (NASDAQ:BLTE)

Advisors Preferred LLC purchased a new position in Belite Bio, Inc (NASDAQ:BLTE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 798 shares of the company’s stock, valued at approximately $52,000.

Several other large investors also recently modified their holdings of the stock. JPMorgan Chase & Co. increased its holdings in Belite Bio by 7,122.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company’s stock worth $298,000 after acquiring an additional 6,268 shares during the period. State Street Corp boosted its holdings in Belite Bio by 28.2% during the 3rd quarter. State Street Corp now owns 20,086 shares of the company’s stock valued at $942,000 after acquiring an additional 4,415 shares during the period. GAMMA Investing LLC grew its holdings in shares of Belite Bio by 48.1% in the fourth quarter. GAMMA Investing LLC now owns 1,290 shares of the company’s stock worth $81,000 after purchasing an additional 419 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Belite Bio in the third quarter valued at about $253,000. Hedge funds and other institutional investors own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

BLTE has been the subject of several research analyst reports. Benchmark increased their target price on Belite Bio from $57.00 to $79.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Maxim Group raised their price target on Belite Bio from $60.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, HC Wainwright increased their price target on Belite Bio from $60.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th.

Belite Bio Stock Performance

NASDAQ BLTE opened at $57.53 on Friday. The company has a market cap of $1.78 billion, a P/E ratio of -51.83 and a beta of -1.59. The business has a fifty day moving average price of $60.62 and a 200 day moving average price of $58.38. Belite Bio, Inc has a one year low of $31.00 and a one year high of $86.53.

Belite Bio (NASDAQ:BLTE) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.02. During the same quarter in the previous year, the firm posted ($0.40) EPS. As a group, sell-side analysts predict that Belite Bio, Inc will post -1.17 EPS for the current fiscal year.

About Belite Bio

Belite Bio, Inc, a clinical stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting retinal degenerative eye diseases with unmet medical needs in the United States. The company’s lead product candidate is LBS-008 (Tinlarebant), an orally administered once-a-day tablet for maintaining the health and integrity of retinal tissues in autosomal recessive Stargardt disease and geographic atrophy patients.