Marc Beer Purchases 16,000 Shares of biote (NASDAQ:BTMD) Stock

biote Corp. (NASDAQ:BTMD) Chairman Marc Beer acquired 16,000 shares of the company’s stock in a transaction on 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 completion of 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 position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

biote Trading Up 4.9%

Shares of BTMD stock opened at $1.49 on Friday. The company has a market cap of $55.99 million, a P/E ratio of 13.55 and a beta of 1.64. The firm has a fifty day moving average price of $2.14 and a 200 day moving average price of $2.01. biote Corp. has a 12 month low of $1.27 and a 12 month high of $3.62.

biote (NASDAQ:BTMD) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.23) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.26). The business had revenue of $44.23 million during the quarter, compared to analyst estimates of $46.12 million. biote had a net margin of 3.19% and a negative return on equity of 22.69%. On average, equities analysts forecast that biote Corp. will post 0.03 EPS for the current year.

Institutional Trading of biote

Large investors have recently made changes to their positions in the company. Millennium Management LLC acquired a new stake in shares of biote in the fourth quarter valued at approximately $40,000. Abel Hall LLC purchased a new position in shares of biote during the fourth quarter worth approximately $45,000. Marshall Wace LLP acquired a new position in shares of biote in the 4th quarter valued at $40,000. Deutsche Bank AG increased its holdings in shares of biote by 46,220.9% in the 4th quarter. Deutsche Bank AG now owns 19,918 shares of the company’s stock valued at $52,000 after acquiring an additional 19,875 shares during the period. Finally, LPL Financial LLC acquired a new position in shares of biote in the 4th quarter valued at $32,000. 21.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BTMD has been the subject of several recent analyst reports. B. Riley Financial decreased their target price on biote from $2.00 to $1.50 and set a “neutral” rating for the company in a research note on Monday. TD Cowen dropped their price target on shares of biote from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Weiss Ratings upgraded shares of biote from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Finally, Truist Financial upgraded shares of biote to a “strong-buy” rating in a report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $2.50.

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.