Belite Bio, Inc (NASDAQ:BLTE) Short Interest Up 28.0% in July

Belite Bio, Inc (NASDAQ:BLTE) was the target of a large growth in short interest in July. As of July 15th, there was short interest totalling 284,700 shares, a growth of 28.0% from the June 30th total of 222,500 shares. Based on an average daily volume of 56,300 shares, the days-to-cover ratio is currently 5.1 days.

Analyst Upgrades and Downgrades

BLTE has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Belite Bio in a report on Thursday, June 20th. Benchmark reissued a “buy” rating and set a $57.00 price objective on shares of Belite Bio in a report on Thursday, May 16th. Finally, HC Wainwright reissued a “buy” rating and set a $59.00 price objective on shares of Belite Bio in a report on Thursday, June 13th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Belite Bio stock. Jump Financial LLC acquired a new position in shares of Belite Bio, Inc (NASDAQ:BLTE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,200 shares of the company’s stock, valued at approximately $238,000. Institutional investors own 0.53% of the company’s stock.

Belite Bio Stock Up 0.9 %

NASDAQ:BLTE traded up $0.43 during mid-day trading on Monday, reaching $49.57. 11,659 shares of the company were exchanged, compared to its average volume of 57,106. Belite Bio has a 12 month low of $20.32 and a 12 month high of $50.66. The company has a fifty day moving average of $48.05 and a 200 day moving average of $44.70. The stock has a market cap of $1.48 billion, a PE ratio of -41.64 and a beta of -1.47.

Belite Bio (NASDAQ:BLTE) last issued its earnings results on Monday, May 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.34) by $0.07. On average, equities research analysts anticipate that Belite Bio will post -1.08 EPS for the current fiscal year.

Belite Bio Company Profile

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.