biote Corp. (NASDAQ:BTMD) Major Shareholder Guines Llc Purchases 750,000 Shares

biote Corp. (NASDAQ:BTMD) major shareholder Guines Llc bought 750,000 shares of the 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 completion of the purchase, the insider now directly owns 3,820,938 shares in the company, valued at approximately $12,303,420.36. This represents a 24.42 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own more than 10% 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 stock was purchased at an average price of $3.74 per share, for a total transaction of $374.00.

biote Price Performance

NASDAQ BTMD opened at $4.00 on Tuesday. biote Corp. has a 1 year low of $3.04 and a 1 year high of $8.44. The stock has a market capitalization of $217.35 million, a PE ratio of 15.38 and a beta of 1.07. The company’s 50 day simple moving average is $4.92 and its two-hundred day simple moving average is $5.53.

Analysts Set New Price Targets

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

Institutional Trading of biote

Several institutional investors and hedge funds have recently bought and sold shares of the company. Kanen Wealth Management LLC purchased a new stake in shares of biote during the 4th quarter valued at $1,791,000. Hillsdale Investment Management Inc. purchased a new stake in shares of biote during the 4th quarter valued at $1,561,000. Wasatch Advisors LP raised its position in shares of biote by 8.4% during the 3rd quarter. Wasatch Advisors LP now owns 1,392,809 shares of the company’s stock valued at $7,772,000 after buying an additional 107,792 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of biote during the 4th quarter valued at $543,000. Finally, Trexquant Investment LP raised its position in shares of biote by 423.1% during the 4th quarter. Trexquant Investment LP now owns 101,757 shares of the company’s stock valued at $629,000 after buying an additional 82,303 shares in the last quarter. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

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.