Kanen Wealth Management LLC Invests $1.79 Million in biote Corp. (NASDAQ:BTMD)

Kanen Wealth Management LLC acquired a new stake in biote Corp. (NASDAQ:BTMD) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 289,803 shares of the company’s stock, valued at approximately $1,791,000. biote accounts for 0.7% of Kanen Wealth Management LLC’s investment portfolio, making the stock its 17th largest holding. Kanen Wealth Management LLC owned approximately 0.53% of biote as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BTMD. Barclays PLC grew its holdings in biote by 52.3% in the third quarter. Barclays PLC now owns 77,196 shares of the company’s stock valued at $432,000 after purchasing an additional 26,510 shares during the last quarter. K2 Principal Fund L.P. purchased a new position in biote during the 3rd quarter valued at about $277,000. Jane Street Group LLC raised its position in biote by 24.7% during the third quarter. Jane Street Group LLC now owns 16,873 shares of the company’s stock worth $94,000 after acquiring an additional 3,342 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of biote in the third quarter valued at about $295,000. Finally, State Street Corp grew its position in shares of biote by 13.7% in the third quarter. State Street Corp now owns 475,491 shares of the company’s stock valued at $2,653,000 after purchasing an additional 57,290 shares during the last quarter. Hedge funds and other institutional investors own 21.68% of the company’s stock.

Analyst Ratings Changes

Separately, Craig Hallum started coverage on biote in a research report on Monday, December 16th. They set a “buy” rating and a $12.00 price objective for the company.

biote Stock Performance

Shares of BTMD stock opened at $5.64 on Monday. biote Corp. has a twelve month low of $3.65 and a twelve month high of $8.44. The company has a market capitalization of $306.48 million, a price-to-earnings ratio of 21.69 and a beta of 1.08. The firm has a 50-day moving average price of $6.17 and a 200 day moving average price of $6.20.

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.