5 Best-Performing Non-Energy Stocks of 2022

1. Belite Bio, Inc (NASDAQ:BLTE)

Number of Hedge Fund Holders: 1

YTD Share Price Gain as of September 16: 266.48%

Belite Bio, Inc (NASDAQ:BLTE) is a California-based clinical-stage biopharmaceutical drug development company that specializes in treatments for atrophic age-related macular degeneration and autosomal recessive stargardt diseases. The stock has gained more than 266% year to date as of September 16, making it one of the best-performing non-energy stocks of 2022.

On September 16, Belite Bio, Inc (NASDAQ:BLTE) announced that it had received approval from the National Medical Products Administration of China to start the Phase 3 trial of its drug, LBS-008, in adolescents with a rare type of eye disease called Stargardt disease STGD1. To evaluate the safety and efficiency of LBS-008 in adolescent subjects, Phase 3 trials had begun already in the United States, the United Kingdom, Germany, Belgium, Switzerland, Hong Kong, Taiwan, and Australia, with multiple patients already enrolled. 

H.C. Wainwright analyst Yi Chen on August 1 initiated coverage of Belite Bio, Inc (NASDAQ:BLTE) with a Buy rating and a $58 price target. The analyst noted the company has a unique approach for a rare juvenile-onset retinal disorder.

You can also take a look at 12 Best Medical Device Stocks To Buy Now and 10 Best Media Stocks To Buy. 

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