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

biote Corp. (NASDAQ:BTMD) major shareholder Guines Llc purchased 750,000 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was purchased at an average price of $3.22 per share, for a total transaction of $2,415,000.00. Following the acquisition, the insider now owns 3,820,938 shares of the company’s stock, valued at approximately $12,303,420.36. This represents a 24.42 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

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

biote Price Performance

NASDAQ:BTMD opened at $4.22 on Thursday. biote Corp. has a one year low of $3.04 and a one year high of $8.44. The company has a market cap of $229.30 million, a PE ratio of 16.23 and a beta of 1.07. The firm has a 50-day moving average of $4.85 and a 200-day moving average of $5.51.

Institutional Trading of biote

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

Wall Street Analyst Weigh In

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