Insider Buying: biote Corp. (NASDAQ:BTMD) Director Buys 38,104 Shares of Stock

biote Corp. (NASDAQ:BTMD) Director Stephen Mark Cone bought 38,104 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average price of $3.88 per share, for a total transaction of $147,843.52. Following the completion of the acquisition, the director now directly owns 160,829 shares in the company, valued at approximately $624,016.52. The trade was a 31.05 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

biote Stock Performance

Shares of NASDAQ:BTMD opened at $4.07 on Wednesday. biote Corp. has a 52 week low of $3.04 and a 52 week high of $8.44. The company has a market cap of $221.15 million, a PE ratio of 15.65 and a beta of 1.07. The firm has a 50 day simple moving average of $4.88 and a 200 day simple moving average of $5.51.

Institutional Trading of biote

Several hedge funds and other institutional investors have recently modified their holdings of BTMD. Victory Capital Management Inc. acquired a new position in biote during the third quarter valued at $106,000. MetLife Investment Management LLC increased its holdings in shares of biote by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 16,582 shares of the company’s stock valued at $93,000 after purchasing an additional 9,343 shares during the period. Wasatch Advisors LP lifted its position in shares of biote by 8.4% in the third quarter. Wasatch Advisors LP now owns 1,392,809 shares of the company’s stock worth $7,772,000 after purchasing an additional 107,792 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its position in shares of biote by 24.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 272,377 shares of the company’s stock worth $1,520,000 after purchasing an additional 54,302 shares in the last quarter. Finally, Quarry LP acquired a new stake in shares of biote during the third quarter worth approximately $104,000. Institutional investors and hedge funds own 21.68% of the company’s stock.

Analyst Ratings Changes

Separately, Craig Hallum cut their price objective on biote from $12.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, March 13th.

About biote

biote Corp. operates in practice-building business within the hormone optimization space. It trains physicians and nurse practitioners in hormone optimization using bioidentical hormone replacement pellet therapy in men and women experiencing hormonal imbalance. The company offers Biote Method, a comprehensive end-to-end practice building platform that provides Biote-certified practitioners with the components developed for practitioners in the hormone optimization space comprising Biote Method education, training, and certification services; practice management software that allows Biote-certified practitioners to order, track, and manage hormone optimization product inventory and other administrative requirements; inventory management software to monitor pellet inventory; and information regarding available hormone replacement therapy products, as well as digital and point-of-care marketing support.