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

Belite Bio, Inc (NASDAQ:BLTE) was the recipient of a significant drop in short interest in August. As of August 31st, there was short interest totalling 270,200 shares, a drop of 5.1% from the August 15th total of 284,800 shares. Based on an average trading volume of 44,000 shares, the days-to-cover ratio is presently 6.1 days.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Belite Bio in a research note on Thursday, June 20th. HC Wainwright reaffirmed a “buy” rating and set a $60.00 price target on shares of Belite Bio in a report on Thursday, September 12th. Finally, Benchmark reiterated a “buy” rating and issued a $57.00 price objective on shares of Belite Bio in a report on Tuesday, August 13th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Belite Bio stock. Jump Financial LLC bought a new stake in Belite Bio, Inc (NASDAQ:BLTE) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,200 shares of the company’s stock, valued at approximately $238,000. 0.53% of the stock is owned by institutional investors.

Belite Bio Trading Down 0.4 %

Shares of Belite Bio stock opened at $48.31 on Thursday. The company has a fifty day simple moving average of $48.82 and a 200-day simple moving average of $45.39. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of -40.94 and a beta of -1.49. Belite Bio has a 12-month low of $28.51 and a 12-month high of $50.66.

Belite Bio (NASDAQ:BLTE) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.03). On average, analysts forecast that Belite Bio will post -1.19 earnings per share 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.