Insider Buying: biote (NASDAQ:BTMD) Chairman Acquires $24,800.00 in Stock

biote Corp. (NASDAQ:BTMD) Chairman Marc Beer acquired 16,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was purchased at an average cost of $1.55 per share, for a total transaction of $24,800.00. Following the transaction, the chairman owned 239,744 shares in the company, valued at approximately $371,603.20. The trade was a 7.15% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

biote Stock Down 1.3%

NASDAQ BTMD opened at $1.47 on Friday. biote Corp. has a 52 week low of $1.27 and a 52 week high of $3.62. The company has a 50 day moving average price of $2.13 and a 200 day moving average price of $2.01. The firm has a market cap of $52.82 million, a PE ratio of 13.36 and a beta of 1.64.

biote (NASDAQ:BTMD) last announced its earnings results on Wednesday, August 5th. The company reported ($0.23) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.26). biote had a net margin of 3.19% and a negative return on equity of 22.33%. The firm had revenue of $44.23 million during the quarter, compared to analyst estimates of $46.12 million. On average, equities research analysts anticipate that biote Corp. will post 0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in shares of biote by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 620,256 shares of the company’s stock worth $1,613,000 after buying an additional 8,016 shares during the last quarter. State Street Corp lifted its stake in shares of biote by 17.3% during the fourth quarter. State Street Corp now owns 600,114 shares of the company’s stock worth $1,560,000 after buying an additional 88,402 shares during the period. Renaissance Technologies LLC grew its holdings in shares of biote by 30.6% during the first quarter. Renaissance Technologies LLC now owns 265,916 shares of the company’s stock valued at $359,000 after buying an additional 62,322 shares during the last quarter. Rice Hall James & Associates LLC grew its holdings in shares of biote by 3.8% during the first quarter. Rice Hall James & Associates LLC now owns 250,019 shares of the company’s stock valued at $338,000 after buying an additional 9,190 shares during the last quarter. Finally, Strs Ohio grew its holdings in shares of biote by 50.9% during the fourth quarter. Strs Ohio now owns 166,300 shares of the company’s stock valued at $432,000 after buying an additional 56,100 shares during the last quarter. Institutional investors and hedge funds own 21.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BTMD shares. TD Cowen lowered their price objective on biote from $2.50 to $2.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Weiss Ratings downgraded biote from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday. B. Riley Financial reduced their target price on biote from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Monday. Finally, Truist Financial upgraded biote to a “strong-buy” rating in a research note on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $2.50.

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.