biote (NASDAQ:BTMD) Now Covered by Analysts at Craig Hallum

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

biote Price Performance

NASDAQ:BTMD opened at $6.39 on Monday. biote has a 1-year low of $3.65 and a 1-year high of $8.44. The firm has a 50 day simple moving average of $5.84 and a 200-day simple moving average of $6.35. The firm has a market cap of $347.21 million, a PE ratio of 24.58 and a beta of 1.07.

Institutional Investors Weigh In On biote

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its position in biote by 52.3% during the third quarter. Barclays PLC now owns 77,196 shares of the company’s stock worth $432,000 after buying an additional 26,510 shares during the period. K2 Principal Fund L.P. purchased a new position in shares of biote during the 3rd quarter worth about $277,000. Jane Street Group LLC lifted 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. Wellington Management Group LLP acquired a new stake in shares of biote in the third quarter worth approximately $295,000. Finally, State Street Corp grew its holdings in biote by 13.7% in the third quarter. State Street Corp now owns 475,491 shares of the company’s stock valued at $2,653,000 after purchasing an additional 57,290 shares during the period. Hedge funds and other institutional investors 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.