Squarepoint Ops LLC Takes Position in biote Corp. (NASDAQ:BTMD)

Squarepoint Ops LLC acquired a new stake in shares of biote Corp. (NASDAQ:BTMD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 18,574 shares of the company’s stock, valued at approximately $115,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hillsdale Investment Management Inc. purchased a new stake in shares of biote during the fourth quarter worth about $1,561,000. Marshall Wace LLP purchased a new stake in shares of biote during the fourth quarter worth about $543,000. Trexquant Investment LP lifted its holdings in biote by 423.1% in the fourth quarter. Trexquant Investment LP now owns 101,757 shares of the company’s stock worth $629,000 after buying an additional 82,303 shares during the period. Walleye Capital LLC purchased a new stake in biote in the fourth quarter worth about $445,000. Finally, Millennium Management LLC purchased a new stake in biote in the fourth quarter worth about $414,000. 21.68% of the stock is owned by institutional investors.

Insider Transactions at biote

In other news, major shareholder Guines Llc purchased 436,037 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were bought at an average cost of $3.26 per share, for a total transaction of $1,421,480.62. Following the acquisition, the insider now owns 4,611,071 shares of the company’s stock, valued at approximately $15,032,091.46. This trade represents a 10.44% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen Mark Cone bought 38,104 shares of the company’s stock in a transaction on 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 completion of the purchase, the director now directly owns 160,829 shares in the company, valued at approximately $624,016.52. This represents a 31.05% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 1,412,080 shares of company stock worth $4,598,190 in the last three months. Insiders own 24.00% of the company’s stock.

biote Stock Up 2.6%

Shares of BTMD opened at $3.93 on Tuesday. The company has a market capitalization of $215.01 million, a P/E ratio of 15.12 and a beta of 1.16. The firm has a 50 day moving average of $3.58 and a 200 day moving average of $4.66. biote Corp. has a twelve month low of $3.04 and a twelve month high of $8.44.

biote (NASDAQ:BTMD) last posted its earnings results on Wednesday, May 7th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. biote had a net margin of 5.20% and a negative return on equity of 32.41%. The business had revenue of $48.99 million during the quarter, compared to the consensus estimate of $47.25 million. On average, sell-side analysts expect that biote Corp. will post 0.75 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Craig Hallum lowered their price objective 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 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.