biote Corp. (NASDAQ:BTMD) Director Stephen Mark Cone Purchases 38,104 Shares

biote Corp. (NASDAQ:BTMD) Director Stephen Mark Cone purchased 38,104 shares of biote stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average price of $3.88 per share, with a total value of $147,843.52. Following the completion of the purchase, the director now directly owns 160,829 shares in the company, valued at $624,016.52. This trade represents a 31.05 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

biote Stock Up 3.7 %

Shares of NASDAQ:BTMD opened at $4.22 on Thursday. biote Corp. has a 12-month low of $3.04 and a 12-month high of $8.44. The company’s 50 day moving average price is $4.85 and its two-hundred day moving average price is $5.51. The firm has a market cap of $229.30 million, a PE ratio of 16.23 and a beta of 1.07.

Institutional Investors Weigh In On biote

A number of large investors have recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in biote by 52.3% in the 3rd quarter. Barclays PLC now owns 77,196 shares of the company’s stock valued at $432,000 after acquiring an additional 26,510 shares in the last quarter. Kanen Wealth Management LLC bought a new position in shares of biote in the fourth quarter worth $1,791,000. State Street Corp raised its stake in biote by 13.7% in the third quarter. State Street Corp now owns 475,491 shares of the company’s stock valued at $2,653,000 after purchasing an additional 57,290 shares in the last quarter. Jane Street Group LLC lifted its position in biote by 24.7% during the third quarter. Jane Street Group LLC now owns 16,873 shares of the company’s stock worth $94,000 after purchasing an additional 3,342 shares during the period. Finally, Wasatch Advisors LP grew its stake in biote by 8.4% during the third quarter. Wasatch Advisors LP now owns 1,392,809 shares of the company’s stock worth $7,772,000 after buying an additional 107,792 shares in the last quarter. Institutional investors and hedge funds own 21.68% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Craig Hallum reduced their target price on shares of biote from $12.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, March 13th.

biote Company Profile

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.