biote Corp. (NASDAQ:BTMD) Major Shareholder Purchases $2,415,000.00 in Stock

biote Corp. (NASDAQ:BTMD) major shareholder Guines Llc bought 750,000 shares of biote stock in a transaction dated Thursday, March 13th. The shares were bought at an average cost of $3.22 per share, for a total transaction of $2,415,000.00. Following the completion of the acquisition, the insider now owns 3,820,938 shares in the company, valued at $12,303,420.36. This represents a 24.42 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

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

biote Trading Up 1.8 %

biote stock opened at $4.07 on Wednesday. The company has a market capitalization of $221.15 million, a PE ratio of 15.65 and a beta of 1.07. biote Corp. has a 12 month low of $3.04 and a 12 month high of $8.44. The stock has a 50-day moving average price of $4.88 and a two-hundred day moving average price of $5.51.

Hedge Funds Weigh In On biote

Large investors have recently bought and sold shares of the company. Barclays PLC raised its position in biote by 52.3% in the third quarter. Barclays PLC now owns 77,196 shares of the company’s stock valued at $432,000 after purchasing an additional 26,510 shares during the last quarter. Kanen Wealth Management LLC bought a new position in biote in the fourth quarter valued at about $1,791,000. State Street Corp raised its position 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 during the last quarter. Jane Street Group LLC raised 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 valued at $94,000 after purchasing an additional 3,342 shares during the last quarter. Finally, Wasatch Advisors LP raised its position in biote by 8.4% in the third quarter. Wasatch Advisors LP now owns 1,392,809 shares of the company’s stock valued at $7,772,000 after purchasing an additional 107,792 shares during the last quarter. 21.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Craig Hallum reduced their price objective on biote from $12.00 to $8.00 and set a “buy” rating on the stock in a research note 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.