GAMMA Investing LLC Buys 419 Shares of Belite Bio, Inc (NASDAQ:BLTE)

GAMMA Investing LLC increased its stake in Belite Bio, Inc (NASDAQ:BLTE) by 48.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,290 shares of the company’s stock after purchasing an additional 419 shares during the quarter. GAMMA Investing LLC’s holdings in Belite Bio were worth $81,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Armistice Capital LLC purchased a new position in shares of Belite Bio in the 2nd quarter worth $6,761,000. State Street Corp increased its position in Belite Bio by 28.2% during the third quarter. State Street Corp now owns 20,086 shares of the company’s stock valued at $942,000 after acquiring an additional 4,415 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Belite Bio by 7,122.7% in the third quarter. JPMorgan Chase & Co. now owns 6,356 shares of the company’s stock valued at $298,000 after acquiring an additional 6,268 shares during the period. Finally, XTX Topco Ltd purchased a new position in Belite Bio in the third quarter worth about $253,000. Institutional investors own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Maxim Group upped their price target on shares of Belite Bio from $60.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 15th. HC Wainwright boosted their target price on shares of Belite Bio from $60.00 to $100.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th.

Belite Bio Stock Performance

NASDAQ:BLTE opened at $55.47 on Friday. The stock has a 50-day simple moving average of $68.49 and a two-hundred day simple moving average of $57.06. The firm has a market capitalization of $1.71 billion, a PE ratio of -49.97 and a beta of -1.56. Belite Bio, Inc has a 52-week low of $31.00 and a 52-week high of $86.53.

Belite Bio (NASDAQ:BLTE) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.02. During the same period in the prior year, the company earned ($0.40) EPS. Equities analysts forecast that Belite Bio, Inc will post -1.21 earnings per share for the current fiscal year.

Belite Bio 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.