GAMMA Investing LLC Acquires 443 Shares of Belite Bio, Inc (NASDAQ:BLTE)

GAMMA Investing LLC raised its stake in shares of Belite Bio, Inc (NASDAQ:BLTE) by 103.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 871 shares of the company’s stock after purchasing an additional 443 shares during the quarter. GAMMA Investing LLC’s holdings in Belite Bio were worth $41,000 at the end of the most recent reporting period.

Separately, Armistice Capital LLC purchased a new position in shares of Belite Bio during the second quarter valued at about $6,761,000. Institutional investors and hedge funds own 0.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on BLTE. HC Wainwright restated a “buy” rating and issued a $60.00 price objective on shares of Belite Bio in a report on Thursday, September 12th. Benchmark reaffirmed a “buy” rating and issued a $57.00 price target on shares of Belite Bio in a research note on Tuesday, August 13th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Belite Bio in a report on Thursday, June 20th.

Belite Bio Stock Up 0.0 %

Shares of BLTE opened at $56.00 on Friday. The stock has a market cap of $1.67 billion, a P/E ratio of -47.46 and a beta of -1.50. The business’s 50 day moving average price is $49.83 and its 200-day moving average price is $46.60. Belite Bio, Inc has a 52 week low of $30.21 and a 52 week high of $56.50.

Belite Bio (NASDAQ:BLTE) last released its earnings results on Friday, August 9th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). On average, equities analysts anticipate that Belite Bio, Inc will post -1.19 EPS for the current 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.