Insider Buying: biote Corp. (NASDAQ:BTMD) Major Shareholder Buys $351,920.00 in Stock

biote Corp. (NASDAQ:BTMD) major shareholder Guines Llc purchased 106,000 shares of the company’s stock in a transaction dated Monday, March 31st. The shares were purchased at an average cost of $3.32 per share, for a total transaction of $351,920.00. Following the transaction, the insider now directly owns 4,033,547 shares in the company, valued at approximately $13,391,376.04. This represents a 2.70 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more 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 shares were acquired at an average cost of $3.74 per share, for a total transaction of $374.00.
• On Thursday, March 13th, Guines Llc purchased 750,000 shares of biote stock. The stock was bought at an average price of $3.22 per share, for a total transaction of $2,415,000.00.

biote Trading Down 2.1 %

Shares of biote stock opened at $3.29 on Friday. The firm’s 50 day simple moving average is $4.35 and its two-hundred day simple moving average is $5.31. The firm has a market capitalization of $180.00 million, a price-to-earnings ratio of 12.65 and a beta of 1.07. biote Corp. has a 12-month low of $3.04 and a 12-month high of $8.44.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

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

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.