Belite Bio, Inc (NASDAQ:BLTE - Get Free Report)'s stock price traded up 4.8% during trading on Monday . The company traded as high as $67.00 and last traded at $66.25. 49,229 shares traded hands during mid-day trading, a decline of 1% from the average session volume of 49,762 shares. The stock had previously closed at $63.19.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on BLTE shares. HC Wainwright increased their price target on Belite Bio from $60.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, November 13th. Benchmark increased their target price on Belite Bio from $57.00 to $79.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Finally, Maxim Group boosted their price target on Belite Bio from $60.00 to $110.00 and gave the company a "buy" rating in a research note on Friday, November 15th.
Read Our Latest Stock Analysis on Belite Bio
Belite Bio Stock Up 0.0 %
The company has a fifty day simple moving average of $58.19 and a 200-day simple moving average of $59.98. The firm has a market cap of $2.21 billion, a P/E ratio of -62.60 and a beta of -1.54.
Institutional Investors Weigh In On Belite Bio
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLTE. Advisors Preferred LLC purchased a new position in Belite Bio during the fourth quarter valued at approximately $52,000. GAMMA Investing LLC lifted its stake in shares of Belite Bio by 48.1% during the 4th quarter. GAMMA Investing LLC now owns 1,290 shares of the company's stock valued at $81,000 after buying an additional 419 shares in the last quarter. BNP Paribas Financial Markets bought a new position in Belite Bio in the 4th quarter worth $155,000. XTX Topco Ltd bought a new position in Belite Bio in the 3rd quarter worth $253,000. Finally, JPMorgan Chase & Co. increased its stake in Belite Bio by 7,122.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company's stock worth $298,000 after buying an additional 6,268 shares in the last quarter. 0.53% of the stock is owned by hedge funds and other institutional investors.
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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