biote Corp. (NASDAQ:BTMD) Director Stephen Mark Cone Purchases 38,104 Shares

biote Corp. (NASDAQ:BTMD) Director Stephen Mark Cone bought 38,104 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were acquired at an average cost of $3.88 per share, for a total transaction of $147,843.52. Following the transaction, the director now directly owns 160,829 shares in the company, valued at approximately $624,016.52. This represents a 31.05 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

biote Stock Down 0.5 %

BTMD opened at $4.20 on Friday. The firm has a market cap of $228.22 million, a price-to-earnings ratio of 16.15 and a beta of 1.07. biote Corp. has a 52 week low of $3.04 and a 52 week high of $8.44. The business’s 50 day moving average is $4.81 and its two-hundred day moving average is $5.50.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio acquired a new position in biote during the fourth quarter worth approximately $69,000. Squarepoint Ops LLC acquired a new position in shares of biote in the fourth quarter valued at approximately $115,000. Millennium Management LLC acquired a new position in shares of biote in the fourth quarter valued at approximately $414,000. Lazard Asset Management LLC acquired a new position in shares of biote in the fourth quarter valued at approximately $139,000. Finally, Deutsche Bank AG increased its holdings in shares of biote by 4,987.5% in the fourth quarter. Deutsche Bank AG now owns 31,441 shares of the company’s stock valued at $194,000 after purchasing an additional 30,823 shares during the period. Institutional investors and hedge funds own 21.68% of the company’s stock.

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.