biote (NASDAQ:BTMD) Trading 0.5% Higher - Here's Why

Shares of biote Corp. (NASDAQ:BTMD - Get Free Report) shot up 0.5% during mid-day trading on Friday . The stock traded as high as $4.22 and last traded at $4.21. 25,438 shares changed hands during trading, a decline of 85% from the average session volume of 174,350 shares. The stock had previously closed at $4.19.

Analysts Set New Price Targets

Separately, Craig Hallum decreased their target price on biote from $12.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, March 13th.

biote Price Performance

The stock has a fifty day moving average price of $3.83 and a 200-day moving average price of $4.36. The company has a market cap of $230.33 million, a PE ratio of 6.90 and a beta of 1.21.

biote (NASDAQ:BTMD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The business had revenue of $48.99 million for the quarter, compared to the consensus estimate of $47.25 million. biote had a net margin of 10.93% and a negative return on equity of 19.44%. On average, equities analysts anticipate that biote Corp. will post 0.75 earnings per share for the current year.

Insider Transactions at biote

In related news, major shareholder Guines Llc bought 436,037 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The shares were acquired at an average price of $3.26 per share, with a total value of $1,421,480.62. Following the completion of the transaction, the insider owned 4,611,071 shares of the company's stock, valued at $15,032,091.46. The trade was a 10.44% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 510,555 shares of company stock worth $1,659,333 in the last three months. 24.00% of the stock is owned by corporate insiders.

Institutional Trading of biote

Institutional investors have recently modified their holdings of the company. Sei Investments Co. grew its holdings in shares of biote by 56.4% in the 4th quarter. Sei Investments Co. now owns 18,321 shares of the company's stock worth $113,000 after purchasing an additional 6,605 shares during the last quarter. Renaissance Technologies LLC boosted its position in biote by 9.8% in the fourth quarter. Renaissance Technologies LLC now owns 178,994 shares of the company's stock valued at $1,106,000 after buying an additional 16,017 shares in the last quarter. Squarepoint Ops LLC bought a new stake in biote during the fourth quarter worth about $115,000. Millennium Management LLC bought a new stake in biote during the fourth quarter worth about $414,000. Finally, Price T Rowe Associates Inc. MD acquired a new stake in shares of biote during the fourth quarter worth approximately $67,000. Institutional investors and hedge funds 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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