Victory Capital Management Inc. Makes New Investment in biote Corp. (NASDAQ:BTMD)

Victory Capital Management Inc. acquired a new stake in biote Corp. (NASDAQ:BTMD) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 18,945 shares of the company’s stock, valued at approximately $106,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Renaissance Technologies LLC increased its stake in shares of biote by 251.8% in the second quarter. Renaissance Technologies LLC now owns 193,077 shares of the company’s stock worth $1,442,000 after buying an additional 138,200 shares during the period. Bailard Inc. bought a new stake in biote in the 2nd quarter worth $146,000. The Manufacturers Life Insurance Company purchased a new position in shares of biote in the second quarter valued at about $84,000. Bank of New York Mellon Corp raised its stake in shares of biote by 59.0% during the second quarter. Bank of New York Mellon Corp now owns 94,318 shares of the company’s stock valued at $705,000 after acquiring an additional 34,999 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of biote during the second quarter valued at about $42,000. Hedge funds and other institutional investors own 21.68% of the company’s stock.

biote Price Performance

NASDAQ BTMD opened at $6.61 on Monday. biote Corp. has a 1 year low of $3.65 and a 1 year high of $8.44. The stock has a market capitalization of $359.19 million, a PE ratio of 25.42 and a beta of 0.94. The business’s 50-day moving average is $5.59 and its 200 day moving average is $6.31.

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.