Insider Buying: biote Corp. (NASDAQ:BTMD) Director Acquires 38,104 Shares of Stock

biote Corp. (NASDAQ:BTMD) Director Stephen Mark Cone purchased 38,104 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were purchased at an average cost of $3.88 per share, with a total value of $147,843.52. Following the completion of the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

biote Stock Up 1.8 %

Shares of BTMD traded up $0.07 during midday trading on Tuesday, reaching $4.07. 231,877 shares of the stock were exchanged, compared to its average volume of 176,677. biote Corp. has a 12-month low of $3.04 and a 12-month high of $8.44. The firm has a 50 day simple moving average of $4.88 and a 200-day simple moving average of $5.51. The company has a market cap of $221.15 million, a price-to-earnings ratio of 15.65 and a beta of 1.07.

Analyst Ratings Changes

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

Institutional Investors Weigh In On biote

Hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD acquired a new position in shares of biote during the 4th quarter valued at about $67,000. Commonwealth Equity Services LLC acquired a new position in shares of biote during the 4th quarter valued at about $68,000. Public Employees Retirement System of Ohio acquired a new position in shares of biote during the 4th quarter valued at about $69,000. Intech Investment Management LLC acquired a new position in shares of biote during the 4th quarter valued at about $71,000. Finally, SG Americas Securities LLC acquired a new position in shares of biote during the 4th quarter valued at about $76,000. 21.68% of the stock is owned by hedge funds and other institutional investors.

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.