biote Corp. (NASDAQ:BTMD) Director Stephen Mark Cone Buys 38,104 Shares

biote Corp. (NASDAQ:BTMD) Director Stephen Mark Cone acquired 38,104 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average price of $3.88 per share, for a total transaction of $147,843.52. Following the completion of the transaction, the director now owns 160,829 shares in the company, valued at $624,016.52. The trade was a 31.05 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

biote Stock Up 1.8 %

BTMD stock opened at $4.07 on Wednesday. The company has a market capitalization of $221.15 million, a P/E ratio of 15.65 and a beta of 1.07. The company has a 50-day simple moving average of $4.88 and a 200 day simple moving average of $5.51. biote Corp. has a fifty-two week low of $3.04 and a fifty-two week high of $8.44.

Institutional Trading of biote

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

Analyst Ratings Changes

Separately, Craig Hallum dropped their price target 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.