biote (NASDAQ:BTMD) Research Coverage Started at Craig Hallum

Craig Hallum initiated coverage on shares of biote (NASDAQ:BTMD) in a report released on Monday, Marketbeat reports. The brokerage issued a buy rating and a $12.00 price target on the stock.

biote Stock Performance

Shares of NASDAQ BTMD opened at $6.18 on Monday. The firm has a market cap of $335.80 million, a price-to-earnings ratio of 23.77 and a beta of 1.07. biote has a 1 year low of $3.65 and a 1 year high of $8.44. The stock’s 50-day simple moving average is $5.88 and its 200-day simple moving average is $6.35.

Institutional Trading of biote

A number of hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new position in biote during the 2nd quarter valued at $42,000. The Manufacturers Life Insurance Company bought a new position in shares of biote during the second quarter worth about $84,000. MetLife Investment Management LLC grew its stake in biote by 129.1% in the third quarter. MetLife Investment Management LLC now owns 16,582 shares of the company’s stock worth $93,000 after purchasing an additional 9,343 shares in the last quarter. Jane Street Group LLC increased its holdings in biote by 24.7% in the third quarter. Jane Street Group LLC now owns 16,873 shares of the company’s stock valued at $94,000 after buying an additional 3,342 shares during the last quarter. Finally, Quarry LP bought a new stake in biote in the third quarter valued at about $104,000. Institutional investors and hedge funds own 21.68% of the company’s stock.

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.