Belite Bio, Inc (NASDAQ:BLTE – Get Rating)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $37.69, but opened at $36.01. Belite Bio shares last traded at $37.98, with a volume of 49 shares changing hands.
Separately, Benchmark initiated coverage on shares of Belite Bio in a research note on Friday. They issued a “buy” rating and a $57.00 target price on the stock.
The stock has a 50-day simple moving average of $20.60.
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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