Craig Hallum Has Lowered Expectations for biote (NASDAQ:BTMD) Stock Price

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

biote Trading Up 22.5 %

Shares of BTMD stock opened at $3.76 on Thursday. The stock has a 50 day moving average of $4.96 and a 200 day moving average of $5.55. The stock has a market cap of $204.31 million, a P/E ratio of 14.46 and a beta of 1.07. biote has a twelve month low of $3.04 and a twelve month high of $8.44.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new position in biote during the fourth quarter valued at approximately $69,000. Squarepoint Ops LLC purchased a new position in biote during the fourth quarter valued at approximately $115,000. Millennium Management LLC purchased a new position in biote during the fourth quarter valued at approximately $414,000. Lazard Asset Management LLC purchased a new position in biote during the fourth quarter valued at approximately $139,000. Finally, Deutsche Bank AG raised its position in biote by 4,987.5% during the fourth quarter. Deutsche Bank AG now owns 31,441 shares of the company’s stock valued at $194,000 after acquiring an additional 30,823 shares in the last quarter. 21.68% of the stock is currently 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.