Equities researchers at Craig Hallum assumed coverage on shares of biote (NASDAQ:BTMD - Get Free Report) in a research report issued on Monday, Marketbeat reports. The firm set a "buy" rating and a $12.00 price target on the stock. Craig Hallum's target price suggests a potential upside of 87.79% from the company's current price.
biote Trading Up 0.3 %
NASDAQ:BTMD traded up $0.02 during trading hours on Monday, hitting $6.39. The company's stock had a trading volume of 236,321 shares, compared to its average volume of 164,075. The stock has a market capitalization of $347.21 million, a P/E ratio of 24.77 and a beta of 1.07. The stock has a fifty day moving average of $5.82 and a 200-day moving average of $6.35. biote has a 52-week low of $3.65 and a 52-week high of $8.44.
Institutional Trading of biote
Hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in biote in the 2nd quarter worth about $42,000. The Manufacturers Life Insurance Company acquired a new stake in shares of biote during the second quarter worth approximately $84,000. MetLife Investment Management LLC grew its holdings in shares of biote by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 16,582 shares of the company's stock valued at $93,000 after acquiring an additional 9,343 shares in the last quarter. Jane Street Group LLC increased its holdings in biote by 24.7% in the third quarter. Jane Street Group LLC now owns 16,873 shares of the company's stock worth $94,000 after buying an additional 3,342 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of biote in the 3rd quarter valued at $104,000. 21.68% of the stock is owned by institutional investors and hedge funds.
About biote
(
Get Free Report)
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.
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