Belite Bio, Inc (NASDAQ:BLTE) Short Interest Up 17.1% in February

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. Currently, 0.3% of the shares of the stock are sold short. Based on an average trading volume of 46,300 shares, the days-to-cover ratio is presently 1.8 days.

Hedge Funds Weigh In On Belite Bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisors Preferred LLC acquired a new stake in shares of Belite Bio during the 4th quarter valued at $52,000. GAMMA Investing LLC lifted its position in shares of Belite Bio by 48.1% during the 4th quarter. GAMMA Investing LLC now owns 1,290 shares of the company’s stock valued at $81,000 after acquiring an additional 419 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of Belite Bio during the 4th quarter valued at $155,000. XTX Topco Ltd acquired a new stake in shares of Belite Bio during the 3rd quarter valued at $253,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of 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 purchasing an additional 6,268 shares in the last quarter. 0.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Belite Bio in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and issued a $100.00 price target on shares of Belite Bio in a research note on Tuesday. Finally, Benchmark boosted their price target on Belite Bio from $57.00 to $79.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st.

Belite Bio Trading Up 0.1 %

NASDAQ:BLTE opened at $67.73 on Friday. Belite Bio has a 52 week low of $31.01 and a 52 week high of $86.53. The firm has a market capitalization of $2.16 billion, a PE ratio of -61.02 and a beta of -1.54. The stock has a 50 day moving average of $59.24 and a 200-day moving average of $60.71.

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