Charles Schwab Investment Management Inc. Buys 5,215 Shares of biote Corp. (NASDAQ:BTMD)

Charles Schwab Investment Management Inc. lifted its position in biote Corp. (NASDAQ:BTMD) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 75,738 shares of the company’s stock after purchasing an additional 5,215 shares during the period. Charles Schwab Investment Management Inc.’s holdings in biote were worth $468,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kanen Wealth Management LLC bought a new position in shares of biote during the fourth quarter worth $1,791,000. State Street Corp raised its stake in biote by 13.7% during the 3rd quarter. State Street Corp now owns 475,491 shares of the company’s stock worth $2,653,000 after buying an additional 57,290 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in biote by 24.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 272,377 shares of the company’s stock worth $1,520,000 after buying an additional 54,302 shares during the period. Wellington Management Group LLP bought a new position in biote during the third quarter worth about $295,000. Finally, K2 Principal Fund L.P. acquired a new position in biote in the third quarter valued at about $277,000. Institutional investors own 21.68% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, Director Stephen Mark Cone acquired 38,104 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average cost of $3.88 per share, for a total transaction of $147,843.52. Following the completion of the acquisition, the director now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Guines Llc bought 750,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was purchased at an average cost of $3.22 per share, for a total transaction of $2,415,000.00. Following the transaction, the insider now owns 3,820,938 shares in the company, valued at $12,303,420.36. The trade was a 24.42 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 788,204 shares of company stock worth $2,563,218 over the last ninety days. Company insiders own 13.90% of the company’s stock.

biote Stock Performance

Shares of BTMD opened at $3.33 on Tuesday. The firm has a market cap of $182.18 million, a P/E ratio of 12.81 and a beta of 1.07. biote Corp. has a twelve month low of $3.04 and a twelve month high of $8.44. The firm’s 50 day moving average price is $4.53 and its two-hundred day moving average price is $5.37.

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.