Belite Bio, Inc (NASDAQ:BLTE - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $66.49 and last traded at $65.00, with a volume of 55282 shares trading hands. The stock had previously closed at $64.98.
Analysts Set New Price Targets
A number of brokerages recently issued reports on BLTE. HC Wainwright reissued a "buy" rating and set a $60.00 price objective on shares of Belite Bio in a report on Thursday, September 12th. Benchmark restated a "buy" rating and issued a $57.00 price objective on shares of Belite Bio in a research report on Tuesday, August 13th.
Check Out Our Latest Research Report on Belite Bio
Belite Bio Stock Up 2.5 %
The firm has a market capitalization of $1.98 billion, a PE ratio of -55.34 and a beta of -1.50. The company has a 50-day moving average of $50.66 and a 200 day moving average of $47.24.
Belite Bio (NASDAQ:BLTE - Get Free Report) last issued its quarterly earnings data 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 EPS for the current fiscal year.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Belite Bio stock. Armistice Capital LLC acquired a new stake in shares of Belite Bio, Inc (NASDAQ:BLTE - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 148,000 shares of the company's stock, valued at approximately $6,761,000. Armistice Capital LLC owned about 0.50% of Belite Bio at the end of the most recent quarter. Hedge funds and other institutional investors own 0.53% of the company's stock.
About Belite Bio
(
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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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