Skylands Capital LLC Reduces Stock Position in biote Corp. (NASDAQ:BTMD)

Skylands Capital LLC cut its stake in biote Corp. (NASDAQ:BTMD) by 19.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 159,500 shares of the company’s stock after selling 39,000 shares during the period. Skylands Capital LLC’s holdings in biote were worth $986,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Kanen Wealth Management LLC bought a new stake in biote in the 4th quarter worth approximately $1,791,000. Wasatch Advisors LP boosted its stake in shares of 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 buying an additional 107,792 shares during the last quarter. State Street Corp grew its holdings in shares of biote by 13.7% in the third quarter. State Street Corp now owns 475,491 shares of the company’s stock worth $2,653,000 after acquiring an additional 57,290 shares during the period. Jacobs Levy Equity Management Inc. increased its position in biote by 24.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 272,377 shares of the company’s stock valued at $1,520,000 after acquiring an additional 54,302 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in biote during the third quarter valued at $295,000. Institutional investors own 21.68% of the company’s stock.

biote Stock Down 6.1 %

NASDAQ BTMD opened at $4.49 on Monday. biote Corp. has a 52 week low of $4.45 and a 52 week high of $8.44. The company has a market capitalization of $243.97 million, a P/E ratio of 17.27 and a beta of 1.04. The stock’s 50-day moving average price is $5.54 and its 200-day moving average price is $5.73.

Analyst Ratings Changes

Separately, Craig Hallum assumed coverage on biote in a research report on Monday, December 16th. They issued a “buy” rating and a $12.00 target price on the stock.

biote 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.