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

biote Corp. (NASDAQ:BTMD) major shareholder Guines Llc acquired 750,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $3.22 per share, with a total value of $2,415,000.00. Following the completion of the transaction, the insider now owns 3,820,938 shares of the company’s stock, valued at approximately $12,303,420.36. The trade was a 24.42 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 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 purchased 100 shares of biote stock. The shares were purchased at an average cost of $3.74 per share, with a total value of $374.00.

biote Stock Performance

NASDAQ:BTMD traded up $0.24 during mid-day trading on Monday, hitting $4.00. 602,858 shares of the stock were exchanged, compared to its average volume of 174,311. The stock has a market capitalization of $217.35 million, a price-to-earnings ratio of 15.38 and a beta of 1.07. The firm’s 50-day simple moving average is $4.96 and its 200 day simple moving average is $5.55. biote Corp. has a fifty-two week low of $3.04 and a fifty-two week high of $8.44.

Hedge Funds Weigh In On biote

Hedge funds have recently added to or reduced their stakes in the stock. Barclays PLC increased its stake in biote by 52.3% during the 3rd quarter. Barclays PLC now owns 77,196 shares of the company’s stock worth $432,000 after acquiring an additional 26,510 shares during the period. Kanen Wealth Management LLC bought a new stake in biote during the 4th quarter worth $1,791,000. State Street Corp increased its holdings in biote by 13.7% in the 3rd quarter. State Street Corp now owns 475,491 shares of the company’s stock worth $2,653,000 after purchasing an additional 57,290 shares in the last quarter. Jane Street Group LLC increased its holdings in biote by 24.7% in the 3rd 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 in the last quarter. Finally, Wasatch Advisors LP increased its holdings in biote by 8.4% in the 3rd 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. Institutional investors own 21.68% of the company’s stock.

Analyst Ratings Changes

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

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.