Belite Bio, Inc (NASDAQ:BLTE - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $57.35 and last traded at $57.05, with a volume of 25370 shares. The stock had previously closed at $56.00.
Analysts Set New Price Targets
Several analysts have recently weighed in on BLTE shares. Benchmark restated a "buy" rating and set a $57.00 price objective on shares of Belite Bio in a research report on Tuesday, August 13th. HC Wainwright restated a "buy" rating and set a $60.00 price objective on shares of Belite Bio in a research report on Thursday, September 12th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Belite Bio in a research report on Thursday, June 20th.
View Our Latest Stock Report on BLTE
Belite Bio Stock Performance
The company has a market capitalization of $1.70 billion, a PE ratio of -48.26 and a beta of -1.50. The firm's 50-day simple moving average is $49.98 and its 200 day simple moving average is $46.74.
Belite Bio (NASDAQ:BLTE - Get Free Report) last issued its earnings results on Friday, August 9th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.03). As a group, equities analysts anticipate that Belite Bio, Inc will post -1.19 earnings per share for the current year.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Belite Bio stock. GAMMA Investing LLC increased its holdings in shares of Belite Bio, Inc (NASDAQ:BLTE - Free Report) by 103.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 871 shares of the company's stock after purchasing an additional 443 shares during the quarter. GAMMA Investing LLC's holdings in Belite Bio were worth $41,000 as of its most recent filing with the SEC. 0.53% of the stock is owned by institutional investors and hedge funds.
Belite Bio Company Profile
(
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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