Craig Hallum Lowers biote (NASDAQ:BTMD) Price Target to $8.00

biote (NASDAQ:BTMD - Free Report) had its price objective trimmed by Craig Hallum from $12.00 to $8.00 in a report released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

biote Stock Up 6.4 %

Shares of BTMD stock traded up $0.24 during trading hours on Thursday, hitting $4.00. 602,858 shares of the company's stock were exchanged, compared to its average volume of 174,311. The firm has a market cap of $217.35 million, a P/E ratio of 15.38 and a beta of 1.07. The firm has a 50 day moving average of $4.96 and a two-hundred day moving average of $5.55. biote has a fifty-two week low of $3.04 and a fifty-two week high of $8.44.

Insider Transactions at biote

In other biote news, major shareholder Guines Llc bought 750,000 shares of biote stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $3.22 per share, with a total value of $2,415,000.00. Following the purchase, the insider now directly owns 3,820,938 shares in the company, valued at $12,303,420.36. This represents a 24.42 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 13.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its stake in biote by 8.4% in the 3rd quarter. Wasatch Advisors LP now owns 1,392,809 shares of the company's stock valued at $7,772,000 after purchasing an additional 107,792 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in biote by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 681,524 shares of the company's stock valued at $4,211,000 after purchasing an additional 3,065 shares during the last quarter. State Street Corp raised its stake in biote by 13.7% in the 3rd quarter. State Street Corp now owns 475,491 shares of the company's stock valued at $2,653,000 after purchasing an additional 57,290 shares during the last quarter. Kanen Wealth Management LLC acquired a new position in biote in the 4th quarter valued at $1,791,000. Finally, Northern Trust Corp raised its stake in biote by 9.9% in the 4th quarter. Northern Trust Corp now owns 288,336 shares of the company's stock valued at $1,782,000 after purchasing an additional 25,873 shares during the last quarter. 21.68% of the stock is owned by institutional investors and hedge funds.

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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.