Craig Hallum Cuts biote (NASDAQ:BTMD) Price Target to $8.00

biote (NASDAQ:BTMD) had its price target decreased by Craig Hallum from $12.00 to $8.00 in a report released on Thursday,Benzinga reports. Craig Hallum currently has a buy rating on the stock.

biote Price Performance

Shares of BTMD stock opened at $3.76 on Thursday. biote has a 1-year low of $3.04 and a 1-year high of $8.44. The stock’s 50-day moving average is $4.96 and its 200 day moving average is $5.55. The company has a market cap of $204.31 million, a P/E ratio of 14.46 and a beta of 1.07.

Institutional Investors Weigh In On biote

Several institutional investors have recently added to or reduced their stakes in BTMD. Victory Capital Management Inc. acquired a new stake in biote in the third quarter worth about $106,000. MetLife Investment Management LLC raised its stake in shares of biote by 129.1% in the third 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. Wasatch Advisors LP raised its stake in shares of biote by 8.4% in the third quarter. Wasatch Advisors LP now owns 1,392,809 shares of the company’s stock worth $7,772,000 after purchasing an additional 107,792 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of biote by 24.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 272,377 shares of the company’s stock worth $1,520,000 after purchasing an additional 54,302 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of biote in the third quarter worth about $104,000. 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.