Rhumbline Advisers Increases Stock Position in biote Corp. (NASDAQ:BTMD)

Rhumbline Advisers lifted its holdings in biote Corp. (NASDAQ:BTMD) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,688 shares of the company’s stock after buying an additional 3,920 shares during the quarter. Rhumbline Advisers owned 0.07% of biote worth $233,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Victory Capital Management Inc. acquired a new stake in biote in the third quarter valued at $106,000. MetLife Investment Management LLC increased its holdings in shares of biote by 129.1% in the 3rd quarter. MetLife Investment Management LLC now owns 16,582 shares of the company’s stock valued at $93,000 after purchasing an additional 9,343 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of biote by 8.4% in the third quarter. Wasatch Advisors LP now owns 1,392,809 shares of the company’s stock valued at $7,772,000 after purchasing an additional 107,792 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in biote by 24.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 272,377 shares of the company’s stock worth $1,520,000 after buying an additional 54,302 shares in the last quarter. Finally, Quarry LP acquired a new position in biote during the third quarter worth about $104,000. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

biote Trading Up 1.2 %

NASDAQ:BTMD opened at $4.26 on Monday. The company has a market capitalization of $231.48 million, a P/E ratio of 16.38 and a beta of 1.07. The firm has a 50-day moving average price of $5.18 and a two-hundred day moving average price of $5.62. biote Corp. has a twelve month low of $4.03 and a twelve month high of $8.44.

Wall Street Analyst Weigh In

Separately, Craig Hallum began coverage on biote in a report on Monday, December 16th. They set a “buy” rating and a $12.00 price objective for the company.

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.