Charles Schwab Investment Management Inc. Purchases 5,215 Shares of biote Corp. (NASDAQ:BTMD)

Charles Schwab Investment Management Inc. raised its position in shares of biote Corp. (NASDAQ:BTMD) by 7.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 75,738 shares of the company’s stock after buying an additional 5,215 shares during the period. Charles Schwab Investment Management Inc. owned about 0.14% of biote worth $468,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp boosted its stake in biote by 19.8% in the fourth quarter. Bank of New York Mellon Corp now owns 105,886 shares of the company’s stock worth $654,000 after purchasing an additional 17,521 shares in the last quarter. Thompson Davis & CO. Inc. bought a new position in shares of biote in the fourth quarter valued at about $77,000. Rhumbline Advisers lifted its position in biote by 11.6% during the 4th quarter. Rhumbline Advisers now owns 37,688 shares of the company’s stock worth $233,000 after buying an additional 3,920 shares in the last quarter. SG Americas Securities LLC bought a new stake in biote during the 4th quarter worth about $76,000. Finally, Kanen Wealth Management LLC acquired a new stake in biote in the 4th quarter valued at about $1,791,000. 21.68% of the stock is owned by institutional investors and hedge funds.

biote Stock Performance

NASDAQ:BTMD opened at $3.33 on Tuesday. The company has a market cap of $182.18 million, a price-to-earnings ratio of 12.81 and a beta of 1.07. The stock’s fifty day moving average price is $4.53 and its two-hundred day moving average price is $5.37. biote Corp. has a 52-week low of $3.04 and a 52-week high of $8.44.

Insider Transactions at biote

In other biote news, Director Stephen Mark Cone purchased 38,104 shares of the stock in a transaction dated Monday, March 17th. The stock was bought at an average price of $3.88 per share, for a total transaction of $147,843.52. Following the transaction, the director now directly owns 160,829 shares in the company, valued at $624,016.52. This represents a 31.05 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Guines Llc acquired 750,000 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $3.22 per share, for a total transaction of $2,415,000.00. Following the completion of the acquisition, the insider now directly owns 3,820,938 shares of the company’s stock, valued at $12,303,420.36. This trade represents a 24.42 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 788,204 shares of company stock worth $2,563,218 over the last 90 days. 13.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.