Commonwealth Equity Services LLC Takes Position in biote Corp. (NASDAQ:BTMD)

Commonwealth Equity Services LLC acquired a new position in biote Corp. (NASDAQ:BTMD) in the 4th quarter, HoldingsChannel reports. The fund acquired 11,000 shares of the company’s stock, valued at approximately $68,000.

A number of other hedge funds have also bought and sold shares of the business. SG Americas Securities LLC bought a new stake in biote during the fourth quarter valued at $76,000. Thompson Davis & CO. Inc. purchased a new stake in shares of biote in the 4th quarter worth about $77,000. Jane Street Group LLC grew its holdings in shares of biote by 24.7% during the 3rd quarter. Jane Street Group LLC now owns 16,873 shares of the company’s stock worth $94,000 after acquiring an additional 3,342 shares during the period. Rhumbline Advisers lifted its position in biote by 11.6% during the fourth quarter. Rhumbline Advisers now owns 37,688 shares of the company’s stock valued at $233,000 after buying an additional 3,920 shares during the period. Finally, Wellington Management Group LLP purchased a new stake in biote in the third quarter worth about $295,000. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum cut their price objective 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.

biote Trading Up 9.0 %

Shares of BTMD stock opened at $3.65 on Friday. biote Corp. has a 12-month low of $3.04 and a 12-month high of $8.44. The stock has a market capitalization of $199.69 million, a P/E ratio of 14.04 and a beta of 1.17. The firm’s 50 day moving average is $4.06 and its 200 day moving average is $5.19.

Insider Buying and Selling at biote

In related news, Director Stephen Mark Cone acquired 38,104 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were purchased at an average price of $3.88 per share, with a total value of $147,843.52. Following the completion of the purchase, the director now directly owns 160,829 shares of the company’s stock, valued at $624,016.52. This represents a 31.05 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Guines Llc acquired 106,000 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were purchased at an average price of $3.32 per share, for a total transaction of $351,920.00. Following the completion of the transaction, the insider now directly owns 4,033,547 shares in the company, valued at approximately $13,391,376.04. This trade represents a 2.70 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 958,435 shares of company stock valued at $3,118,936. 13.90% of the stock is owned by company insiders.

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.