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

biote Corp. (NASDAQ:BTMD) major shareholder Guines Llc acquired 106,000 shares of biote stock in a transaction dated Monday, March 31st. The stock was purchased at an average cost of $3.32 per share, for a total transaction of $351,920.00. Following the completion of the purchase, the insider now owns 4,033,547 shares in the company, valued at approximately $13,391,376.04. The trade was a 2.70 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock 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 stock was purchased at an average price of $3.74 per share, for a total transaction of $374.00.
• On Thursday, March 13th, Guines Llc bought 750,000 shares of biote stock. The shares were acquired at an average price of $3.22 per share, for a total transaction of $2,415,000.00.

biote Price Performance

Shares of BTMD traded down $0.17 during trading hours on Wednesday, hitting $3.46. The stock had a trading volume of 93,452 shares, compared to its average volume of 183,097. The firm has a 50 day simple moving average of $4.48 and a 200-day simple moving average of $5.36. biote Corp. has a 1-year low of $3.04 and a 1-year high of $8.44. The firm has a market capitalization of $189.30 million, a P/E ratio of 13.31 and a beta of 1.07.

Analyst Upgrades and Downgrades

Separately, Craig Hallum dropped their target price on shares of biote from $12.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th.

Hedge Funds Weigh In On biote

Hedge funds have recently bought and sold shares of the company. MetLife Investment Management LLC raised its holdings in biote by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 16,582 shares of the company’s stock valued at $93,000 after acquiring an additional 9,343 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of biote by 24.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 272,377 shares of the company’s stock valued at $1,520,000 after acquiring an additional 54,302 shares in the last quarter. Quarry LP bought a new stake in shares of biote during the 3rd quarter valued at about $104,000. State Street Corp boosted its position in biote by 13.7% during the 3rd quarter. State Street Corp now owns 475,491 shares of the company’s stock valued at $2,653,000 after acquiring an additional 57,290 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in shares of biote in the 3rd quarter worth approximately $295,000. 21.68% of the stock is owned by hedge funds and other institutional investors.

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.