Belite Bio (NASDAQ:BLTE) Sees Large Volume Increase

Belite Bio, Inc (NASDAQ:BLTEGet Rating) saw unusually-strong trading volume on Friday . Approximately 4,292 shares traded hands during trading, a decline of 88% from the previous session’s volume of 36,911 shares.The stock last traded at $37.00 and had previously closed at $38.98.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BLTE shares. Benchmark started coverage on Belite Bio in a research note on Friday, July 1st. They set a “buy” rating and a $57.00 price target on the stock. HC Wainwright started coverage on Belite Bio in a research note on Monday, August 1st. They set a “buy” rating and a $58.00 price target on the stock.

Belite Bio Price Performance

The business’s 50 day moving average price is $33.28.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Belite Bio stock. Millennium Management LLC bought a new position in shares of Belite Bio, Inc (NASDAQ:BLTEGet Rating) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 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.

Belite Bio Company Profile

(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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