biote (NASDAQ:BTMD) Coverage Initiated at Craig Hallum

Equities researchers at Craig Hallum assumed coverage on shares of biote (NASDAQ:BTMD) in a report released on Monday, MarketBeat reports. The firm set a “buy” rating and a $12.00 price target on the stock. Craig Hallum’s price objective would indicate a potential upside of 88.98% from the stock’s current price.

biote Stock Down 0.6 %

BTMD stock opened at $6.35 on Monday. The company has a market cap of $345.04 million, a PE ratio of 24.42 and a beta of 1.07. The business has a 50-day simple moving average of $5.87 and a 200 day simple moving average of $6.35. biote has a 52 week low of $3.65 and a 52 week high of $8.44.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BTMD. Allspring Global Investments Holdings LLC acquired a new position in biote during the second quarter worth about $42,000. The Manufacturers Life Insurance Company acquired a new position in biote during the second quarter worth about $84,000. MetLife Investment Management LLC raised its stake in 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 acquiring an additional 9,343 shares in the last quarter. Jane Street Group LLC raised its stake in biote by 24.7% during 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 in the last quarter. Finally, Quarry LP acquired a new position in biote during the third quarter worth about $104,000. Institutional investors and hedge funds own 21.68% of the company’s stock.

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.