Bank of New York Mellon Corp Has $654,000 Stake in biote Corp. (NASDAQ:BTMD)

Bank of New York Mellon Corp raised its stake in shares of biote Corp. (NASDAQ:BTMD) by 19.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 105,886 shares of the company’s stock after buying an additional 17,521 shares during the quarter. Bank of New York Mellon Corp owned about 0.19% of biote worth $654,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of BTMD. SG Americas Securities LLC bought a new position in biote during the 4th quarter worth approximately $76,000. Thompson Davis & CO. Inc. bought a new position in shares of biote during the fourth quarter worth $77,000. MetLife Investment Management LLC boosted its position in shares of biote by 129.1% during 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 grew its holdings in shares of biote by 24.7% in the 3rd 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 period. Finally, Quarry LP bought a new stake in shares of biote in the 3rd quarter valued at $104,000. 21.68% of the stock is owned by institutional investors.

Insider Activity at biote

In other biote news, Director Stephen Mark Cone acquired 38,104 shares of the stock in a transaction dated Monday, March 17th. The shares were bought at an average cost of $3.88 per share, for a total transaction of $147,843.52. Following the completion of the acquisition, the director now directly owns 160,829 shares of the company’s stock, valued at approximately $624,016.52. This trade represents a 31.05 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Guines Llc bought 750,000 shares of biote stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $3.22 per share, with a total value of $2,415,000.00. Following the acquisition, the insider now directly owns 3,820,938 shares of the company’s stock, valued at $12,303,420.36. The trade was a 24.42 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 788,204 shares of company stock valued at $2,563,218. 13.90% of the stock is owned by corporate insiders.

biote Stock Down 2.4 %

biote stock opened at $3.72 on Thursday. The company has a 50 day moving average of $4.66 and a 200-day moving average of $5.43. biote Corp. has a twelve month low of $3.04 and a twelve month high of $8.44. The stock has a market capitalization of $202.13 million, a PE ratio of 14.31 and a beta of 1.07.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum dropped their price target on biote from $12.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th.

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.