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

Key Points

• Chairman Marc Beer purchased 16,000 biote shares at an average price of $1.55, investing $24,800 and increasing his stake by 7.15% to 239,744 shares.
• BTMD shares fell to $1.42, near the company’s $1.27 one-year low. biote also reported a quarterly loss of $0.23 per share, missing expectations by $0.26, while revenue of $44.23 million came in below forecasts.
• Analyst sentiment remains mixed but averages to a “Moderate Buy,” with a consensus price target of $2.50. Institutional investors own 21.68% of the company.

biote Corp. (NASDAQ:BTMD - Get Free Report) Chairman Marc Beer bought 16,000 shares of the business's stock in a transaction dated Tuesday, August 11th. The shares were bought at an average price 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 approximately $371,603.20. This trade represents a 7.15% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

biote Stock Performance

Shares of NASDAQ BTMD traded down $0.12 during mid-day trading on Wednesday, reaching $1.42. The company had a trading volume of 184,971 shares, compared to its average volume of 249,798. The firm has a market cap of $53.36 million, a price-to-earnings ratio of 12.91 and a beta of 1.64. The business's 50-day simple moving average is $2.18 and its 200 day simple moving average is $2.03. biote Corp. has a one year low of $1.27 and a one year high of $3.62.

biote (NASDAQ:BTMD - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $44.23 million for the quarter, compared to the consensus estimate of $46.12 million. biote had a negative return on equity of 22.69% and a net margin of 3.19%. On average, sell-side analysts anticipate that biote Corp. will post 0.11 EPS for the current year.

Wall Street Analyst Weigh In

BTMD has been the subject of a number of recent analyst reports. Weiss Ratings raised 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 shares of 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 cut their target price on biote from $2.00 to $1.50 and set a "neutral" rating for the company in a research note on Monday. Finally, Truist Financial raised biote to a "strong-buy" rating in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $2.50.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. LPL Financial LLC acquired a new stake in biote during the 4th quarter worth approximately $32,000. Quadrature Capital Ltd acquired a new position in biote in the 4th quarter valued at approximately $38,000. Abel Hall LLC increased its position in biote by 60.3% in the 1st quarter. Abel Hall LLC now owns 27,921 shares of the company's stock valued at $38,000 after acquiring an additional 10,507 shares during the period. Marshall Wace LLP bought a new position in shares of biote during the fourth quarter valued at $40,000. Finally, Millennium Management LLC bought a new position in shares of biote during the fourth quarter valued at $40,000. Institutional investors own 21.68% of the company's stock.

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.

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