Insider Buying: biote Corp. (NASDAQ:BTMD) Major Shareholder Buys 43,378 Shares of Stock

biote Corp. (NASDAQ:BTMD - Get Free Report) major shareholder Guines Llc bought 43,378 shares of the company's stock in a transaction that occurred on Monday, April 7th. The shares were acquired at an average cost of $3.15 per share, with a total value of $136,640.70. Following the transaction, the insider now owns 4,107,987 shares in the company, valued at approximately $12,940,159.05. This represents a 1.07 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.

Guines Llc also recently made the following trade(s):

• On Wednesday, April 9th, Guines Llc acquired 13,532 shares of biote stock. The shares were purchased at an average price of $3.21 per share, for a total transaction of $43,437.72.
• On Thursday, April 3rd, Guines Llc bought 7,321 shares of biote stock. The shares were purchased at an average cost of $3.24 per share, with a total value of $23,720.04.
• On Monday, March 31st, Guines Llc purchased 106,000 shares of biote stock. The shares were purchased at an average cost of $3.32 per share, with a total value of $351,920.00.
• On Monday, March 17th, Guines Llc purchased 100 shares of biote stock. The stock was bought at an average cost of $3.74 per share, for a total transaction of $374.00.
• On Thursday, March 13th, Guines Llc acquired 750,000 shares of biote stock. The shares were bought at an average cost of $3.22 per share, for a total transaction of $2,415,000.00.

biote Trading Up 9.0 %

Shares of biote stock traded up $0.30 during trading on Friday, reaching $3.65. The company's stock had a trading volume of 224,626 shares, compared to its average volume of 185,298. The stock has a 50-day moving average price of $4.06 and a two-hundred day moving average price of $5.19. The stock has a market capitalization of $199.69 million, a P/E ratio of 14.04 and a beta of 1.17. biote Corp. has a one year low of $3.04 and a one year high of $8.44.

Analyst Upgrades and Downgrades

Separately, Craig Hallum lowered their price target on biote from $12.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, March 13th.

Hedge Funds Weigh In On biote

Institutional investors and hedge funds have recently modified their holdings of the business. MetLife Investment Management LLC boosted its position in shares of biote by 129.1% in the third 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. boosted its holdings in biote by 24.9% in 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 during the last quarter. Quarry LP bought a new position in shares of biote in the 3rd quarter worth about $104,000. State Street Corp boosted its stake in biote by 13.7% during the third quarter. State Street Corp now owns 475,491 shares of the company's stock worth $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 $295,000. 21.68% of the stock is currently owned by institutional investors and hedge funds.

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.