biote (NASDAQ:BTMD) Price Target Lowered to $8.00 at Craig Hallum

biote (NASDAQ:BTMD) had its target price cut by investment analysts at Craig Hallum from $12.00 to $8.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price target would suggest a potential upside of 112.77% from the stock’s previous close.

biote Trading Up 22.5 %

biote stock opened at $3.76 on Thursday. The stock has a market cap of $204.31 million, a P/E ratio of 14.46 and a beta of 1.07. The stock has a 50 day moving average of $4.96 and a 200-day moving average of $5.55. biote has a 52 week low of $3.04 and a 52 week high of $8.44.

Hedge Funds Weigh In On biote

Institutional investors and hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD bought a new position in biote during the fourth quarter worth $67,000. Commonwealth Equity Services LLC bought a new position in biote during the fourth quarter worth $68,000. Public Employees Retirement System of Ohio bought a new position in biote during the fourth quarter worth $69,000. Intech Investment Management LLC bought a new position in biote during the fourth quarter worth $71,000. Finally, SG Americas Securities LLC bought a new position in biote during the fourth quarter worth $76,000. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

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.