Marc Beer Buys 16,000 Shares of biote (NASDAQ:BTMD) Stock

biote Corp. (NASDAQ:BTMD) Chairman Marc Beer bought 16,000 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were bought at an average cost of $1.55 per share, with a total value of $24,800.00. Following the completion of the transaction, the chairman owned 239,744 shares in the company, valued at $371,603.20. The trade was a 7.15% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

biote Stock Down 7.8%

BTMD traded down $0.12 during midday trading on Wednesday, hitting $1.42. 184,971 shares of the company were exchanged, compared to its average volume of 249,798. The firm’s 50 day moving average price is $2.18 and its 200-day moving average price is $2.03. biote Corp. has a 1-year low of $1.27 and a 1-year high of $3.62. The firm has a market capitalization of $53.36 million, a P/E ratio of 12.91 and a beta of 1.64.

biote (NASDAQ:BTMD) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.26). biote had a net margin of 3.19% and a negative return on equity of 22.69%. The company had revenue of $44.23 million during the quarter, compared to analyst estimates of $46.12 million. On average, sell-side analysts predict that biote Corp. will post 0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On biote

Several institutional investors and hedge funds have recently made changes to their positions in the business. Rothschild Wealth LLC acquired a new position in shares of biote during the 4th quarter valued at $380,000. WINTON GROUP Ltd acquired a new stake in biote in the third quarter worth $309,000. State Street Corp increased its stake in biote by 17.3% in the fourth quarter. State Street Corp now owns 600,114 shares of the company’s stock valued at $1,560,000 after purchasing an additional 88,402 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in biote by 142.1% in the second quarter. Bridgeway Capital Management LLC now owns 121,053 shares of the company’s stock valued at $487,000 after purchasing an additional 71,053 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of biote by 30.6% during the first quarter. Renaissance Technologies LLC now owns 265,916 shares of the company’s stock valued at $359,000 after purchasing an additional 62,322 shares during the period. Institutional investors own 21.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on BTMD shares. B. Riley Financial lowered their price target on shares of biote from $2.00 to $1.50 and set a “neutral” rating for the company in a report on Monday. TD Cowen reduced their price objective on shares of biote from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Weiss Ratings upgraded shares of biote from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Finally, Truist Financial raised shares of biote to a “strong-buy” rating in a research note on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, biote presently has a consensus rating of “Moderate Buy” and an average target price of $2.50.

About biote

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.