Belite Bio (NASDAQ:BLTE) Stock Price Up 2.7%

Belite Bio, Inc (NASDAQ:BLTEGet Rating)’s share price rose 2.7% during mid-day trading on Friday . The stock traded as high as $36.50 and last traded at $36.50. Approximately 2 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 48,538 shares. The stock had previously closed at $35.55.

Wall Street Analyst Weigh In

BLTE has been the subject of several analyst reports. HC Wainwright initiated coverage on shares of Belite Bio in a report on Monday, August 1st. They issued a “buy” rating and a $58.00 target price for the company. Benchmark started coverage on shares of Belite Bio in a report on Friday, July 1st. They issued a “buy” rating and a $57.00 target price for the company.

Belite Bio Trading Up 9.2 %

The business’s fifty day moving average price is $33.57.

Institutional Investors Weigh In On Belite Bio

A hedge fund recently bought a new stake in Belite Bio stock. Millennium Management LLC acquired a new stake in shares of Belite Bio, Inc (NASDAQ:BLTEGet Rating) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,995 shares of the company’s stock, valued at approximately $280,000. 0.28% of the stock is owned by institutional investors and hedge funds.

About Belite Bio

(Get Rating)

Belite Bio, Inc, a clinical-stage biopharmaceutical drug development company, engages in the research and development of novel therapeutics targeting atrophic age-related macular degeneration and autosomal recessive stargardt diseases. Its lead product candidate is LBS-008, an oral once-a-day treatment that can reduce and maintain the delivery of vitamin A to the eye to reduce the accumulation of toxic vitamin A by-products in ocular tissue that is in phase 3 clinical trial.

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