Barclays PLC Increases Stake in biote Corp. (NASDAQ:BTMD)

Barclays PLC grew its stake in biote Corp. (NASDAQ:BTMD) by 52.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,196 shares of the company’s stock after purchasing an additional 26,510 shares during the period. Barclays PLC owned about 0.14% of biote worth $432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BTMD. Allspring Global Investments Holdings LLC purchased a new stake in biote during the second quarter worth $42,000. The Manufacturers Life Insurance Company acquired a new position in shares of biote in the second quarter worth about $84,000. MetLife Investment Management LLC boosted its stake 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 acquiring an additional 9,343 shares in the last quarter. Jane Street Group LLC grew 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 valued at $94,000 after acquiring an additional 3,342 shares during the period. Finally, Quarry LP acquired a new position in biote in the 3rd quarter worth about $104,000. Institutional investors and hedge funds own 21.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum assumed coverage on biote in a research report on Monday, December 16th. They issued a “buy” rating and a $12.00 price objective for the company. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $9.11.

biote Trading Up 2.8 %

NASDAQ:BTMD opened at $6.20 on Friday. The stock has a 50 day moving average of $6.05 and a two-hundred day moving average of $6.31. biote Corp. has a 12 month low of $3.65 and a 12 month high of $8.44. The firm has a market cap of $336.89 million, a P/E ratio of 23.85 and a beta of 1.07.

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.