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

biote Corp. (NASDAQ:BTMD - Get Free Report) Director Stephen Mark Cone purchased 38,104 shares of the firm's stock in a transaction on Monday, March 17th. The stock was bought at an average cost of $3.88 per share, with a total value of $147,843.52. Following the completion of the acquisition, the director now directly owns 160,829 shares of the company's stock, valued at $624,016.52. This trade represents a 31.05 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

biote Trading Down 8.1 %

Shares of biote stock traded down $0.34 during trading hours on Friday, reaching $3.86. The stock had a trading volume of 230,717 shares, compared to its average volume of 179,505. biote Corp. has a twelve month low of $3.04 and a twelve month high of $8.44. The firm has a market capitalization of $209.74 million, a PE ratio of 14.85 and a beta of 1.07. The stock's 50 day moving average is $4.78 and its 200 day moving average is $5.48.

Analyst Ratings Changes

Separately, Craig Hallum cut their target price on shares of biote from $12.00 to $8.00 and set a "buy" rating for the company in a report on Thursday, March 13th.

Institutional Trading of biote

Several institutional investors have recently bought and sold shares of BTMD. Barclays PLC lifted its position in shares of biote by 52.3% during the 3rd quarter. Barclays PLC now owns 77,196 shares of the company's stock valued at $432,000 after buying an additional 26,510 shares in the last quarter. Kanen Wealth Management LLC acquired a new stake in biote in the 4th quarter worth about $1,791,000. State Street Corp increased its stake in biote by 13.7% during the 3rd quarter. State Street Corp now owns 475,491 shares of the company's stock worth $2,653,000 after buying an additional 57,290 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of biote by 24.7% during the third quarter. Jane Street Group LLC now owns 16,873 shares of the company's stock valued at $94,000 after acquiring an additional 3,342 shares during the last quarter. Finally, Wasatch Advisors LP lifted its position in shares of biote by 8.4% in the third quarter. Wasatch Advisors LP now owns 1,392,809 shares of the company's stock valued at $7,772,000 after acquiring an additional 107,792 shares in 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.