Belite Bio, Inc (NASDAQ:BLTE) Short Interest Down 9.2% in January

Belite Bio, Inc (NASDAQ:BLTE - Get Free Report) was the recipient of a large decline in short interest in January. As of January 31st, there was short interest totalling 63,800 shares, a decline of 9.2% from the January 15th total of 70,300 shares. Based on an average trading volume of 59,400 shares, the short-interest ratio is currently 1.1 days.

Belite Bio Trading Up 0.8 %

BLTE stock traded up $0.43 during midday trading on Thursday, hitting $57.25. 35,462 shares of the company's stock were exchanged, compared to its average volume of 36,747. Belite Bio has a 12-month low of $31.00 and a 12-month high of $86.53. The firm has a 50 day moving average price of $58.84 and a 200-day moving average price of $58.77. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -51.58 and a beta of -1.59.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Benchmark boosted their price target on Belite Bio from $57.00 to $79.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. HC Wainwright boosted 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. Finally, Maxim Group boosted their price target on Belite Bio from $60.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, November 15th.

Institutional Investors Weigh In On Belite Bio

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings 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 during the last quarter. Advisors Preferred LLC purchased a new stake in Belite Bio during the 4th quarter worth approximately $52,000. XTX Topco Ltd increased its holdings in Belite Bio by 30.9% during the 4th quarter. XTX Topco Ltd now owns 7,062 shares of the company's stock worth $446,000 after purchasing an additional 1,668 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in Belite Bio during the 4th quarter worth approximately $155,000. Finally, State Street Corp increased 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 worth $942,000 after purchasing an additional 4,415 shares during the last quarter. 0.53% of the stock is currently owned by hedge funds and other institutional investors.

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.