biote Corp. (NASDAQ:BTMD) Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its stake in shares of biote Corp. (NASDAQ:BTMD) by 56.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 18,321 shares of the company’s stock after acquiring an additional 6,605 shares during the period. Sei Investments Co.’s holdings in biote were worth $113,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Barclays PLC raised its stake in shares of biote by 52.3% during the third quarter. Barclays PLC now owns 77,196 shares of the company’s stock worth $432,000 after purchasing an additional 26,510 shares during the last quarter. Kanen Wealth Management LLC acquired a new position in biote in the 4th quarter valued at $1,791,000. State Street Corp raised its position in biote by 13.7% during the 3rd quarter. State Street Corp now owns 475,491 shares of the company’s stock worth $2,653,000 after buying an additional 57,290 shares during the last quarter. Jane Street Group LLC lifted its stake 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 worth $94,000 after acquiring an additional 3,342 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of biote in the fourth quarter valued at about $76,000. 21.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, major shareholder Guines Llc purchased 750,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were acquired at an average price of $3.22 per share, for a total transaction of $2,415,000.00. Following the acquisition, the insider now directly owns 3,820,938 shares in the company, valued at approximately $12,303,420.36. The trade was a 24.42 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen Mark Cone acquired 38,104 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average cost of $3.88 per share, with a total value of $147,843.52. Following the completion of the purchase, 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 disclosure for this purchase can be found here. Over the last quarter, insiders acquired 958,435 shares of company stock worth $3,118,936. 13.90% of the stock is owned by corporate insiders.

biote Price Performance

BTMD opened at $3.65 on Friday. biote Corp. has a 12 month low of $3.04 and a 12 month high of $8.44. The stock has a market capitalization of $199.69 million, a P/E ratio of 14.04 and a beta of 1.17. The business has a 50 day simple moving average of $4.06 and a 200-day simple moving average of $5.19.

Wall Street Analyst Weigh In

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

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.