JPMorgan Chase & Co. Raises Holdings in biote Corp. (NASDAQ:BTMD)

JPMorgan Chase & Co. increased its position in shares of biote Corp. (NASDAQ:BTMD) by 235.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,517 shares of the company’s stock after acquiring an additional 41,086 shares during the quarter. JPMorgan Chase & Co. owned about 0.11% of biote worth $362,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BTMD. Barclays PLC raised its stake in shares of biote by 52.3% in 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. Sei Investments Co. grew its stake in biote by 56.4% in the 4th quarter. Sei Investments Co. now owns 18,321 shares of the company’s stock valued at $113,000 after acquiring an additional 6,605 shares during the period. Kanen Wealth Management LLC acquired a new position in shares of biote during the 4th quarter worth about $1,791,000. Jane Street Group LLC boosted its stake in shares of biote by 24.7% in the third 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 last quarter. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of biote during the fourth quarter worth $68,000. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In related news, major shareholder Guines Llc acquired 750,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now 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 ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Stephen Mark Cone purchased 38,104 shares of biote stock in a transaction on Monday, March 17th. The stock was bought at an average cost 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 disclosure for this purchase can be found here. In the last quarter, insiders purchased 974,110 shares of company stock valued at $3,170,331. Company insiders own 24.00% of the company’s stock.

biote Trading Down 1.8 %

NASDAQ BTMD opened at $3.27 on Friday. The stock has a market cap of $178.90 million, a PE ratio of 12.58 and a beta of 1.17. The stock has a fifty day simple moving average of $3.70 and a 200-day simple moving average of $5.01. biote Corp. has a twelve month low of $3.04 and a twelve month high of $8.44.

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.