5 Best-Performing Small-Cap Stocks of 2022

2. Belite Bio, Inc (NASDAQ:BLTE)

Number of Hedge Fund Holders: 1

YTD Share Price Gain as of October 3: 183.29%

Belite Bio, Inc (NASDAQ:BLTE) is a California-based clinical-stage biopharmaceutical drug development company, specializing in the research and development of novel therapeutics for atrophic age-related macular degeneration and autosomal recessive stargardt diseases. The stock has climbed over 183% year-to-date as of October 3, making it one of the best-performing small-cap names of 2022. 

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, noting that the company has a unique approach for a rare juvenile-onset retinal disorder.