Acadian Asset Management LLC Buys 91,672 Shares of biote Corp. $BTMD

Key Points

• Acadian Asset Management LLC increased its holdings in biote Corp. by 15.0% in Q1, now owning approximately 1.28% of the company valued at $2.33 million.
• biote's stock price opened at $3.45 and has a market capitalization of $170.57 million, with a 52-week low of $2.76 and a high of $6.98.
• Analysts have recently downgraded biote's stock ratings, with B. Riley lowering their price target from $8.00 to $4.00, while the current average rating stands at "Moderate Buy" with a price target of $6.00.

Acadian Asset Management LLC increased its holdings in biote Corp. (NASDAQ:BTMD - Free Report) by 15.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 700,871 shares of the company's stock after purchasing an additional 91,672 shares during the period. Acadian Asset Management LLC owned approximately 1.28% of biote worth $2,330,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Millennium Management LLC purchased a new stake in shares of biote in the 4th quarter valued at $414,000. Squarepoint Ops LLC purchased a new stake in shares of biote in the 4th quarter valued at $115,000. Bank of America Corp DE raised its holdings in biote by 18.2% during the 4th quarter. Bank of America Corp DE now owns 55,883 shares of the company's stock valued at $345,000 after buying an additional 8,608 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new stake in biote during the 4th quarter valued at $67,000. Finally, BNP Paribas Financial Markets purchased a new stake in biote during the 4th quarter valued at $254,000. Hedge funds and other institutional investors own 21.68% of the company's stock.

biote Stock Performance

Shares of BTMD stock traded down $0.21 during trading hours on Friday, reaching $3.16. The company had a trading volume of 212,732 shares, compared to its average volume of 143,813. The business has a fifty day moving average price of $3.55 and a 200-day moving average price of $3.69. biote Corp. has a one year low of $2.76 and a one year high of $6.98. The firm has a market cap of $156.23 million, a PE ratio of 3.51 and a beta of 1.19.

biote (NASDAQ:BTMD - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.04. The company had revenue of $48.86 million for the quarter, compared to the consensus estimate of $49.52 million. biote had a net margin of 15.73% and a negative return on equity of 21.00%. Equities research analysts forecast that biote Corp. will post 0.75 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BTMD. Wall Street Zen cut shares of biote from a "strong-buy" rating to a "hold" rating in a research report on Saturday, August 9th. B. Riley cut shares of biote from a "buy" rating to a "neutral" rating and dropped their price target for the company from $8.00 to $4.00 in a research report on Thursday, August 7th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, biote presently has an average rating of "Moderate Buy" and an average target price of $6.00.

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.