biote Corp. (NASDAQ:BTMD) Major Shareholder Guines Llc Acquires 750,000 Shares

biote Corp. (NASDAQ:BTMD) major shareholder Guines Llc purchased 750,000 shares of biote stock in a transaction on Thursday, March 13th. The stock was bought at an average price of $3.22 per share, for a total transaction of $2,415,000.00. Following the transaction, the insider now directly owns 3,820,938 shares in the company, valued at approximately $12,303,420.36. The trade was a 24.42 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Guines Llc also recently made the following trade(s):

• On Monday, March 17th, Guines Llc purchased 100 shares of biote stock. The stock was bought at an average price of $3.74 per share, for a total transaction of $374.00.

biote Stock Up 6.4 %

NASDAQ:BTMD traded up $0.24 on Monday, hitting $4.00. The stock had a trading volume of 602,858 shares, compared to its average volume of 174,311. The business’s fifty day moving average is $4.96 and its 200 day moving average is $5.55. The company has a market cap of $217.35 million, a PE ratio of 15.38 and a beta of 1.07. biote Corp. has a 52 week low of $3.04 and a 52 week high of $8.44.

Institutional Trading of biote

Institutional investors and hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in shares of biote by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 681,524 shares of the company’s stock valued at $4,211,000 after acquiring an additional 3,065 shares during the last quarter. Jane Street Group LLC increased its position in biote by 24.7% in the third quarter. Jane Street Group LLC now owns 16,873 shares of the company’s stock worth $94,000 after buying an additional 3,342 shares during the last quarter. Ameriprise Financial Inc. increased its position in biote by 10.2% in the fourth quarter. Ameriprise Financial Inc. now owns 36,214 shares of the company’s stock worth $224,000 after buying an additional 3,351 shares during the last quarter. Rhumbline Advisers increased its position in biote by 11.6% in the fourth quarter. Rhumbline Advisers now owns 37,688 shares of the company’s stock worth $233,000 after buying an additional 3,920 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in biote by 49.9% in the fourth quarter. Wells Fargo & Company MN now owns 12,742 shares of the company’s stock worth $79,000 after buying an additional 4,243 shares during the last quarter. 21.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.