biote Corp. (NASDAQ:BTMD) Major Shareholder Purchases $2,415,000.00 in Stock

biote Corp. (NASDAQ:BTMD) major shareholder Guines Llc bought 750,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $3.22 per share, for a total transaction of $2,415,000.00. Following the transaction, the insider now owns 3,820,938 shares in the company, valued at $12,303,420.36. This trade represents a 24.42 % increase in their ownership of the stock. The purchase 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 stock are required to disclose their sales and purchases with the SEC.

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

• On Monday, March 17th, Guines Llc bought 100 shares of biote stock. The stock was acquired at an average price of $3.74 per share, for a total transaction of $374.00.

biote Stock Up 6.4 %

Shares of NASDAQ:BTMD opened at $4.00 on Tuesday. The stock has a market cap of $217.35 million, a PE ratio of 15.38 and a beta of 1.07. The company’s fifty day moving average is $4.92 and its 200 day moving average is $5.53. biote Corp. has a 52 week low of $3.04 and a 52 week high of $8.44.

Wall Street Analyst Weigh In

Separately, Craig Hallum decreased their target price on shares of biote from $12.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th.

Institutional Investors Weigh In On biote

A number of large investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP grew its holdings in biote by 8.4% in the 3rd quarter. Wasatch Advisors LP now owns 1,392,809 shares of the company’s stock worth $7,772,000 after acquiring an additional 107,792 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in biote by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 681,524 shares of the company’s stock worth $4,211,000 after acquiring an additional 3,065 shares during the last quarter. State Street Corp grew its holdings in biote by 13.7% in the 3rd 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 during the last quarter. Kanen Wealth Management LLC bought a new stake in biote in the 4th quarter worth $1,791,000. Finally, Northern Trust Corp grew its holdings in biote by 9.9% in the 4th quarter. Northern Trust Corp now owns 288,336 shares of the company’s stock worth $1,782,000 after acquiring an additional 25,873 shares during the last quarter. Institutional investors own 21.68% of the company’s stock.

biote Company 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.