XTX Topco Ltd Purchases Shares of 5,394 Belite Bio, Inc (NASDAQ:BLTE)

XTX Topco Ltd acquired a new position in shares of Belite Bio, Inc (NASDAQ:BLTE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 5,394 shares of the company’s stock, valued at approximately $253,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC lifted its position in Belite Bio by 103.5% in the third quarter. GAMMA Investing LLC now owns 871 shares of the company’s stock worth $41,000 after purchasing an additional 443 shares during the period. State Street Corp raised its stake in shares of Belite Bio by 28.2% in the 3rd quarter. State Street Corp now owns 20,086 shares of the company’s stock valued at $942,000 after buying an additional 4,415 shares in the last quarter. Finally, Armistice Capital LLC acquired a new position in shares of Belite Bio in the 2nd quarter valued at $6,761,000. 0.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BLTE has been the topic of several recent research reports. HC Wainwright lifted 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. Maxim Group upped their price objective on Belite Bio from $60.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, November 15th.

Belite Bio Stock Down 0.2 %

Shares of Belite Bio stock opened at $62.96 on Thursday. Belite Bio, Inc has a 12-month low of $31.00 and a 12-month high of $86.53. The stock has a market capitalization of $1.93 billion, a P/E ratio of -56.72 and a beta of -1.64. The company has a 50-day simple moving average of $68.54 and a 200 day simple moving average of $55.63.

Belite Bio (NASDAQ:BLTE) last posted its earnings results 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 quarter in the prior year, the firm posted ($0.40) earnings per share. On average, equities analysts anticipate that Belite Bio, Inc will post -1.21 earnings per share for the current 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.