biote (NASDAQ:BTMD) Coverage Initiated by Analysts at Craig Hallum

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

biote Stock Performance

Shares of NASDAQ BTMD opened at $6.39 on Monday. biote has a one year low of $3.65 and a one year high of $8.44. The firm has a market capitalization of $347.21 million, a P/E ratio of 24.58 and a beta of 1.07. The company’s fifty day moving average is $5.84 and its two-hundred day moving average is $6.35.

Institutional Investors Weigh In On biote

Several institutional investors have recently modified their holdings of BTMD. Allspring Global Investments Holdings LLC acquired a new position in biote during the second quarter worth about $42,000. The Manufacturers Life Insurance Company purchased a new position in shares of biote during the 2nd quarter worth approximately $84,000. MetLife Investment Management LLC raised its position in shares of biote by 129.1% during the 3rd 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 during the last quarter. Jane Street Group LLC raised its position 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 purchasing an additional 3,342 shares during the last quarter. Finally, Quarry LP purchased a new stake in biote in the 3rd quarter valued at approximately $104,000. Hedge funds and other institutional investors own 21.68% of the company’s stock.

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.