Short Interest in Belite Bio, Inc (NASDAQ:BLTE) Grows By 32.2%

Belite Bio, Inc (NASDAQ:BLTEGet Free Report) was the target of a large growth in short interest in the month of May. As of May 31st, there was short interest totalling 46,800 shares, a growth of 32.2% from the May 15th total of 35,400 shares. Based on an average daily volume of 43,500 shares, the days-to-cover ratio is presently 1.1 days.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on BLTE shares. Benchmark reiterated a “buy” rating and set a $57.00 price target on shares of Belite Bio in a report on Thursday, May 16th. HC Wainwright reiterated a “buy” rating and set a $59.00 price objective on shares of Belite Bio in a report on Thursday. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Belite Bio in a report on Wednesday, May 15th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Belite Bio has an average rating of “Buy” and an average price target of $44.83.

View Our Latest Stock Analysis on Belite Bio

Belite Bio Trading Down 0.3 %

NASDAQ:BLTE traded down $0.14 during mid-day trading on Friday, hitting $49.96. 69,327 shares of the company’s stock were exchanged, compared to its average volume of 64,715. Belite Bio has a one year low of $11.00 and a one year high of $50.15. The business has a fifty day moving average price of $42.89 and a 200 day moving average price of $43.71.

Belite Bio (NASDAQ:BLTEGet Free Report) last issued its earnings results on Monday, May 13th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.07. As a group, analysts forecast that Belite Bio will post -1.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Belite Bio stock. Armistice Capital LLC acquired a new stake in shares of Belite Bio, Inc (NASDAQ:BLTEFree Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 36,000 shares of the company’s stock, valued at approximately $1,647,000. Armistice Capital LLC owned about 0.13% of Belite Bio as of its most recent SEC filing. 0.53% of the stock is owned by hedge funds and other institutional investors.

Belite Bio Company Profile

(Get Free Report)

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.

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