Insider Buying: biote Corp. (NASDAQ:BTMD) Major Shareholder Buys 106,000 Shares of Stock

biote Corp. (NASDAQ:BTMD - Get Free Report) major shareholder Guines Llc acquired 106,000 shares of the stock in a transaction that occurred on Monday, March 31st. The stock was purchased at an average price of $3.32 per share, with a total value of $351,920.00. Following the transaction, the insider now owns 4,033,547 shares in the company, valued at $13,391,376.04. This represents a 2.70 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Guines Llc also recently made the following trade(s):

• On Monday, April 7th, Guines Llc acquired 43,378 shares of biote stock. The shares were acquired at an average price of $3.15 per share, for a total transaction of $136,640.70.
• On Thursday, April 3rd, Guines Llc bought 7,321 shares of biote stock. The shares were acquired at an average cost of $3.24 per share, with a total value of $23,720.04.
• On Monday, March 17th, Guines Llc purchased 100 shares of biote stock. The stock was bought at an average cost of $3.74 per share, for a total transaction of $374.00.
• On Thursday, March 13th, Guines Llc acquired 750,000 shares of biote stock. The shares were bought at an average cost of $3.22 per share, with a total value of $2,415,000.00.

biote Stock Performance

biote stock traded down $0.04 during midday trading on Monday, reaching $3.25. The stock had a trading volume of 218,865 shares, compared to its average volume of 184,100. The stock has a market capitalization of $177.81 million, a P/E ratio of 12.50 and a beta of 1.17. The firm's fifty day simple moving average is $4.30 and its 200-day simple moving average is $5.28. biote Corp. has a 1-year low of $3.04 and a 1-year high of $8.44.

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Analysts Set New Price Targets

Separately, Craig Hallum reduced their target price on shares of 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

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

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.