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 position in biote Corp. (NASDAQ:BTMD - Free Report) by 15.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 700,871 shares of the company's stock after purchasing an additional 91,672 shares during the quarter. Acadian Asset Management LLC owned 1.28% of biote worth $2,330,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD purchased a new position in shares of biote in the fourth quarter valued at $67,000. Public Employees Retirement System of Ohio purchased a new position in shares of biote in the fourth quarter valued at $69,000. Hsbc Holdings PLC purchased a new position in shares of biote in the first quarter valued at $43,000. AQR Capital Management LLC purchased a new position in shares of biote in the first quarter valued at $43,000. Finally, Virtu Financial LLC bought a new position in biote during the 1st quarter valued at $62,000. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on BTMD shares. Wall Street Zen downgraded 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 objective for the stock from $8.00 to $4.00 in a report on Thursday, August 7th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, biote presently has an average rating of "Moderate Buy" and an average price target of $6.00.

biote Trading Down 5.6%

NASDAQ BTMD traded down $0.19 during trading on Friday, reaching $3.18. The company's stock had a trading volume of 102,096 shares, compared to its average volume of 170,237. The stock has a market capitalization of $157.22 million, a PE ratio of 3.53 and a beta of 1.19. The business has a 50-day moving average price of $3.57 and a 200-day moving average price of $3.70. biote Corp. has a 1-year low of $2.76 and a 1-year high of $6.98.

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

biote 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.