Belite Bio, Inc (NASDAQ:BLTE) Short Interest Update

Belite Bio, Inc (NASDAQ:BLTE) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 81,300 shares, an increase of 17.1% from the February 13th total of 69,400 shares. Based on an average daily volume of 46,300 shares, the days-to-cover ratio is currently 1.8 days. Approximately 0.3% of the company’s shares are short sold.

Analysts Set New Price Targets

Several brokerages recently weighed in on BLTE. Benchmark boosted their price objective on shares of Belite Bio from $57.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. HC Wainwright reissued a “buy” rating and issued a $100.00 price objective on shares of Belite Bio in a research note on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Belite Bio in a research note on Tuesday.

Hedge Funds Weigh In On Belite Bio

Institutional investors have recently made changes to their positions in the stock. Advisors Preferred LLC acquired a new position in shares of Belite Bio during the fourth quarter valued at about $52,000. GAMMA Investing LLC raised its holdings in shares of Belite Bio by 48.1% during the fourth quarter. GAMMA Investing LLC now owns 1,290 shares of the company’s stock valued at $81,000 after purchasing an additional 419 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of Belite Bio during the fourth quarter valued at about $155,000. XTX Topco Ltd acquired a new position in shares of Belite Bio during the third quarter valued at about $253,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Belite Bio by 7,122.7% during the third quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company’s stock valued at $298,000 after purchasing an additional 6,268 shares during the period. Institutional investors and hedge funds own 0.53% of the company’s stock.

Belite Bio Trading Down 1.0 %

Shares of BLTE opened at $67.69 on Thursday. The stock has a market capitalization of $2.16 billion, a P/E ratio of -60.98 and a beta of -1.54. The firm’s fifty day simple moving average is $59.01 and its two-hundred day simple moving average is $60.66. Belite Bio has a 12 month low of $31.01 and a 12 month high of $86.53.

Belite Bio (NASDAQ:BLTE) last issued its quarterly earnings results on Monday, March 17th. The company reported ($0.32) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.02). As a group, research analysts predict that Belite Bio will post -1.17 EPS for the current fiscal year.

About Belite Bio

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.