Craig Hallum Issues Pessimistic Forecast for biote (NASDAQ:BTMD) Stock Price

biote (NASDAQ:BTMD) had its price objective cut by investment analysts at Craig Hallum from $12.00 to $8.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Craig Hallum’s target price would suggest a potential upside of 148.76% from the stock’s previous close.

biote Stock Down 21.6 %

NASDAQ BTMD opened at $3.22 on Thursday. The firm has a 50 day moving average of $5.07 and a two-hundred day moving average of $5.59. The stock has a market capitalization of $174.75 million, a PE ratio of 12.78 and a beta of 1.07. biote has a 52 week low of $3.63 and a 52 week high of $8.44.

Institutional Investors Weigh In On biote

Several hedge funds have recently modified their holdings of BTMD. Price T Rowe Associates Inc. MD purchased a new position in biote during the 4th quarter worth $67,000. Commonwealth Equity Services LLC purchased a new position in shares of biote during the 4th quarter worth approximately $68,000. Public Employees Retirement System of Ohio acquired a new stake in shares of biote in the 4th quarter valued at approximately $69,000. Intech Investment Management LLC purchased a new stake in shares of biote in the fourth quarter valued at approximately $71,000. Finally, SG Americas Securities LLC acquired a new stake in biote in the fourth quarter valued at $76,000. 21.68% of the stock is owned by institutional investors and hedge funds.

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.