biote Corp. (NASDAQ:BTMD) Shares Purchased by Perritt Capital Management Inc

Perritt Capital Management Inc raised its position in shares of biote Corp. (NASDAQ:BTMD) by 41.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 103,150 shares of the company’s stock after purchasing an additional 30,000 shares during the quarter. Perritt Capital Management Inc owned about 0.19% of biote worth $637,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BTMD. Commonwealth Equity Services LLC bought a new position in biote during the fourth quarter valued at about $68,000. Intech Investment Management LLC acquired a new stake in biote in the 4th quarter valued at about $71,000. SG Americas Securities LLC acquired a new stake in biote in the 4th quarter valued at about $76,000. Thompson Davis & CO. Inc. bought a new position in shares of biote during the 4th quarter valued at about $77,000. Finally, MetLife Investment Management LLC grew its stake in shares of biote by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 16,582 shares of the company’s stock worth $93,000 after purchasing an additional 9,343 shares during the last quarter. 21.68% of the stock is currently owned by institutional investors and hedge funds.

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 report on Thursday, March 13th.

Insider Activity at biote

In other news, major shareholder Guines Llc bought 750,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were bought 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 trade represents a 24.42 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Stephen Mark Cone bought 38,104 shares of biote stock in a transaction dated Monday, March 17th. The stock was acquired at an average price of $3.88 per share, with a total value of $147,843.52. Following the acquisition, the director now directly owns 160,829 shares of the company’s stock, valued at approximately $624,016.52. This represents a 31.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased 788,204 shares of company stock worth $2,563,218 in the last quarter. 13.90% of the stock is owned by company insiders.

biote Stock Up 9.0 %

Shares of NASDAQ BTMD opened at $3.63 on Wednesday. The stock’s fifty day simple moving average is $4.48 and its 200 day simple moving average is $5.36. The stock has a market capitalization of $198.60 million, a price-to-earnings ratio of 13.96 and a beta of 1.07. biote Corp. has a 52-week low of $3.04 and a 52-week high of $8.44.

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.