Marc Beer Acquires 115,950 Shares of biote (NASDAQ:BTMD) Stock

biote Corp. (NASDAQ:BTMD) Chairman Marc Beer acquired 115,950 shares of the stock in a transaction dated Monday, August 10th. The shares were bought at an average price of $1.53 per share, with a total value of $177,403.50. Following the completion of the transaction, the chairman directly owned 223,744 shares of the company’s stock, valued at $342,328.32. The trade was a 107.57% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

biote Price Performance

biote stock opened at $1.49 on Friday. The stock’s 50 day moving average is $2.14 and its 200 day moving average is $2.01. biote Corp. has a one year low of $1.27 and a one year high of $3.62. The firm has a market cap of $55.99 million, a P/E ratio of 13.55 and a beta of 1.64.

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

Institutional Investors Weigh In On biote

Large investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in biote by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 620,256 shares of the company’s stock valued at $1,613,000 after purchasing an additional 8,016 shares in the last quarter. State Street Corp boosted its position in shares of biote by 17.3% during the 4th quarter. State Street Corp now owns 600,114 shares of the company’s stock worth $1,560,000 after purchasing an additional 88,402 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of biote by 30.6% in the 1st quarter. Renaissance Technologies LLC now owns 265,916 shares of the company’s stock valued at $359,000 after buying an additional 62,322 shares during the period. Rice Hall James & Associates LLC grew its stake in shares of biote by 3.8% in the 1st quarter. Rice Hall James & Associates LLC now owns 250,019 shares of the company’s stock valued at $338,000 after buying an additional 9,190 shares during the period. Finally, Strs Ohio increased its position in biote by 50.9% in the 4th quarter. Strs Ohio now owns 166,300 shares of the company’s stock valued at $432,000 after buying an additional 56,100 shares in the last quarter. 21.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on BTMD. Weiss Ratings upgraded shares of biote from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, May 28th. 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. B. Riley Financial dropped their price objective on biote from $2.00 to $1.50 and set a “neutral” rating on the stock in a research note on Monday. Finally, Truist Financial raised biote to a “strong-buy” rating in a research note on Monday, June 15th. One investment 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $2.50.

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.