Belite Bio, Inc. Sponsored ADR $BLTE Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC reduced its stake in shares of Belite Bio, Inc. Sponsored ADR (NASDAQ:BLTE) by 14.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,582 shares of the company’s stock after selling 267 shares during the period. GAMMA Investing LLC’s holdings in Belite Bio were worth $91,000 as of its most recent SEC filing.

Separately, Bank of America Corp DE boosted its holdings in shares of Belite Bio by 36.4% during the 4th quarter. Bank of America Corp DE now owns 18,342 shares of the company’s stock worth $1,157,000 after purchasing an additional 4,891 shares during the last quarter. Institutional investors and hedge funds own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

BLTE has been the topic of several recent research reports. Wall Street Zen upgraded Belite Bio from a “sell” rating to a “hold” rating in a report on Saturday, September 20th. HC Wainwright lowered their price target on Belite Bio from $100.00 to $98.00 and set a “buy” rating for the company in a report on Monday, September 15th. Finally, Zacks Research raised Belite Bio from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Belite Bio currently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Belite Bio Trading Up 0.8%

Shares of NASDAQ BLTE opened at $74.06 on Friday. Belite Bio, Inc. Sponsored ADR has a twelve month low of $48.01 and a twelve month high of $86.53. The stock has a fifty day simple moving average of $67.49 and a 200-day simple moving average of $63.51. The stock has a market capitalization of $2.36 billion, a PE ratio of -47.78 and a beta of -1.46.

Belite Bio (NASDAQ:BLTE) last posted its quarterly earnings data on Monday, August 11th. The company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.03). During the same period last year, the firm earned ($0.31) earnings per share. On average, equities analysts predict that Belite Bio, Inc. Sponsored ADR will post -1.17 earnings per share for the current year.

Belite Bio Company Profile

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.