Belite Bio, Inc (NASDAQ:BLTE - Get Free Report)'s stock price gapped up prior to trading on Thursday . The stock had previously closed at $55.50, but opened at $59.00. Belite Bio shares last traded at $58.05, with a volume of 26,821 shares trading hands.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the company. Benchmark increased their price target on Belite Bio from $57.00 to $79.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Maxim Group increased 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 note on Wednesday, November 13th.
Get Our Latest Report on BLTE
Belite Bio Trading Down 0.1 %
The business has a fifty day moving average of $57.95 and a 200-day moving average of $59.33. The firm has a market cap of $1.82 billion, a PE ratio of -51.50 and a beta of -1.59.
Institutional Trading of Belite Bio
Several institutional investors and hedge funds have recently modified their holdings of BLTE. JPMorgan Chase & Co. raised its holdings in shares of Belite Bio by 130.3% in the 4th quarter. JPMorgan Chase & Co. now owns 14,636 shares of the company's stock valued at $924,000 after acquiring an additional 8,280 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Belite Bio in the 3rd quarter valued at about $253,000. Bank of America Corp DE raised its holdings in shares of Belite Bio by 36.4% in the 4th quarter. Bank of America Corp DE now owns 18,342 shares of the company's stock valued at $1,157,000 after acquiring an additional 4,891 shares in the last quarter. State Street Corp raised its holdings in shares of Belite Bio by 28.2% in 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 in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Belite Bio in the 4th quarter valued at about $155,000. Hedge funds and other institutional investors own 0.53% of the company's stock.
About Belite Bio
(
Get Free Report)
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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