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

biote Corp. (NASDAQ:BTMD - Get Free Report) major shareholder Guines Llc purchased 750,000 shares of the firm's stock in a transaction on Thursday, March 13th. The shares were purchased at an average cost of $3.22 per share, with a total value of $2,415,000.00. Following the completion of the purchase, the insider now owns 3,820,938 shares in the company, valued at $12,303,420.36. This represents a 24.42 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own at least 10% of a company's shares 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 purchased 100 shares of biote stock. The stock was acquired at an average price of $3.74 per share, for a total transaction of $374.00.

biote Stock Performance

Shares of NASDAQ BTMD traded down $0.32 during trading on Friday, hitting $3.88. The company had a trading volume of 129,733 shares, compared to its average volume of 178,319. 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 200 day moving average is $5.50. The company has a market cap of $210.83 million, a P/E ratio of 14.86 and a beta of 1.07.

Institutional Investors Weigh In On biote

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

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Wall Street Analysts Forecast Growth

Separately, Craig Hallum lowered their price objective 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.

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.