biote Corp. (NASDAQ:BTMD) Major Shareholder Guines Llc Purchases 106,000 Shares

biote Corp. (NASDAQ:BTMD) major shareholder Guines Llc acquired 106,000 shares of biote stock in a transaction on Monday, March 31st. The shares were bought at an average cost of $3.32 per share, with a total value of $351,920.00. Following the completion of the purchase, the insider now owns 4,033,547 shares in the company, valued at $13,391,376.04. The trade was a 2.70 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, March 17th, Guines Llc purchased 100 shares of biote stock. The shares were bought at an average price of $3.74 per share, with a total value of $374.00.
• On Thursday, March 13th, Guines Llc acquired 750,000 shares of biote stock. The stock was purchased at an average cost of $3.22 per share, for a total transaction of $2,415,000.00.

biote Trading Down 4.7 %

Shares of BTMD stock opened at $3.46 on Thursday. biote Corp. has a 12-month low of $3.04 and a 12-month high of $8.44. The company has a market cap of $189.30 million, a price-to-earnings ratio of 13.31 and a beta of 1.07. The stock has a 50 day simple moving average of $4.44 and a 200-day simple moving average of $5.34.

Hedge Funds Weigh In On biote

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD purchased a new stake in biote during the fourth quarter worth about $67,000. Commonwealth Equity Services LLC acquired a new position in biote during the fourth quarter worth $68,000. Public Employees Retirement System of Ohio purchased a new stake in biote during the fourth quarter worth $69,000. Intech Investment Management LLC acquired a new stake in biote in the fourth quarter valued at $71,000. Finally, SG Americas Securities LLC purchased a new position in shares of biote in the fourth quarter valued at $76,000. 21.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.