Belite Bio, Inc (NASDAQ:BLTE) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in shares of Belite Bio, Inc (NASDAQ:BLTE - Free Report) by 130.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,636 shares of the company's stock after acquiring an additional 8,280 shares during the period. JPMorgan Chase & Co.'s holdings in Belite Bio were worth $924,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of BLTE. Advisors Preferred LLC purchased a new stake in shares of Belite Bio in the fourth quarter valued at $52,000. GAMMA Investing LLC increased its position in Belite Bio by 48.1% during the 4th quarter. GAMMA Investing LLC now owns 1,290 shares of the company's stock worth $81,000 after purchasing an additional 419 shares in the last quarter. Finally, State Street Corp grew its stake in Belite Bio by 28.2% during the third quarter. State Street Corp now owns 20,086 shares of the company's stock worth $942,000 after buying an additional 4,415 shares during the period. 0.53% of the stock is currently owned by hedge funds and other institutional investors.

Belite Bio Stock Performance

Belite Bio stock opened at $60.18 on Tuesday. The company has a 50-day simple moving average of $61.09 and a 200-day simple moving average of $62.96. The firm has a market capitalization of $1.92 billion, a P/E ratio of -54.22 and a beta of -1.52. Belite Bio, Inc has a one year low of $38.80 and a one year high of $86.53.

Belite Bio (NASDAQ:BLTE - Get Free Report) last announced its earnings results on Monday, March 17th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.30) by ($0.02). As a group, sell-side analysts forecast that Belite Bio, Inc will post -1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. HC Wainwright reiterated a "buy" rating and set a $100.00 price objective on shares of Belite Bio in a research note on Tuesday, March 18th. Benchmark reaffirmed a "buy" rating and issued a $80.00 price target on shares of Belite Bio in a report on Wednesday, March 26th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Belite Bio in a report on Tuesday, March 18th.

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.

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