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

biote Corp. (NASDAQ:BTMD) major shareholder Guines Llc purchased 106,000 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was purchased at an average price of $3.32 per share, for a total transaction of $351,920.00. Following the completion of the acquisition, the insider now owns 4,033,547 shares of the company’s stock, valued at approximately $13,391,376.04. This represents a 2.70 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Monday, March 17th, Guines Llc bought 100 shares of biote stock. The shares were acquired at an average price of $3.74 per share, with a total value of $374.00.
• On Thursday, March 13th, Guines Llc purchased 750,000 shares of biote stock. The shares were bought at an average cost of $3.22 per share, for a total transaction of $2,415,000.00.

biote Price Performance

biote stock traded down $0.17 during mid-day trading on Wednesday, hitting $3.46. 93,452 shares of the company’s stock traded hands, compared to its average volume of 183,097. The stock has a market cap of $189.30 million, a price-to-earnings ratio of 13.31 and a beta of 1.07. The firm has a 50 day simple moving average of $4.48 and a two-hundred day simple moving average of $5.36. biote Corp. has a fifty-two week low of $3.04 and a fifty-two week high of $8.44.

Analysts Set New Price Targets

Separately, Craig Hallum cut their price objective on biote from $12.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, March 13th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD bought a new stake in shares of biote during the fourth quarter worth approximately $67,000. Commonwealth Equity Services LLC bought a new stake in biote in the 4th quarter valued at $68,000. Public Employees Retirement System of Ohio acquired a new position in biote in the 4th quarter valued at $69,000. Intech Investment Management LLC acquired a new position in biote in the 4th quarter valued at $71,000. Finally, SG Americas Securities LLC bought a new stake in shares of biote during the fourth quarter worth $76,000. Institutional investors and hedge funds own 21.68% of the company’s stock.

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.