biote (NASDAQ:BTMD) Chairman Marc Beer Buys 115,950 Shares

biote Corp. (NASDAQ:BTMD) Chairman Marc Beer bought 115,950 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $1.53 per share, with a total value of $177,403.50. Following the transaction, the chairman directly owned 223,744 shares in the company, valued at approximately $342,328.32. This trade represents a 107.57% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

biote Stock Performance

Shares of NASDAQ BTMD opened at $1.42 on Thursday. The company has a market capitalization of $53.37 million, a P/E ratio of 12.91 and a beta of 1.64. biote Corp. has a 52-week low of $1.27 and a 52-week high of $3.62. The company’s 50 day moving average price is $2.16 and its 200-day moving average price is $2.02.

biote (NASDAQ:BTMD) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.26). biote had a net margin of 3.19% and a negative return on equity of 22.69%. The firm had revenue of $44.23 million during the quarter, compared to the consensus estimate of $46.12 million. Analysts forecast that biote Corp. will post 0.03 earnings per share for the current year.

Hedge Funds Weigh In On biote

A number of institutional investors and hedge funds have recently made changes to their positions in BTMD. Lazard Asset Management LLC increased its position in biote by 319.3% in the 1st quarter. Lazard Asset Management LLC now owns 48,943 shares of the company’s stock valued at $66,000 after buying an additional 37,270 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in biote by 3.8% during the 1st quarter. Rice Hall James & Associates LLC now owns 250,019 shares of the company’s stock worth $338,000 after buying an additional 9,190 shares during the period. Renaissance Technologies LLC boosted its holdings in biote by 30.6% in the first quarter. Renaissance Technologies LLC now owns 265,916 shares of the company’s stock worth $359,000 after acquiring an additional 62,322 shares in the last quarter. Abel Hall LLC boosted its holdings in biote by 60.3% in the first quarter. Abel Hall LLC now owns 27,921 shares of the company’s stock worth $38,000 after acquiring an additional 10,507 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in biote in the fourth quarter valued at approximately $38,000. Institutional investors own 21.68% of the company’s stock.

Analysts Set New Price Targets

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