Bandera Partners LLC Acquires Shares of 1,673,108 biote Corp. (NASDAQ:BTMD)

Bandera Partners LLC acquired a new stake in shares of biote Corp. (NASDAQ:BTMD) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 1,673,108 shares of the company’s stock, valued at approximately $11,310,000. biote comprises about 4.8% of Bandera Partners LLC’s investment portfolio, making the stock its 8th biggest position.

Several other institutional investors also recently bought and sold shares of BTMD. Millennium Management LLC bought a new position in biote during the 2nd quarter valued at about $445,000. Creative Planning bought a new position in biote during the 2nd quarter valued at about $44,000. RiverPark Advisors LLC lifted its stake in biote by 229.3% during the 1st quarter. RiverPark Advisors LLC now owns 135,273 shares of the company’s stock valued at $837,000 after acquiring an additional 94,188 shares during the period. Boston Partners bought a new position in biote during the 1st quarter valued at about $5,788,000. Finally, Citigroup Inc. bought a new position in biote during the 1st quarter valued at about $69,000. 22.97% of the stock is owned by hedge funds and other institutional investors.

biote Price Performance

Shares of NASDAQ:BTMD traded up $0.07 during trading on Monday, hitting $5.04. The company’s stock had a trading volume of 25,129 shares, compared to its average volume of 110,114. The company has a 50-day moving average of $5.18 and a 200-day moving average of $5.70. biote Corp. has a 12 month low of $2.75 and a 12 month high of $8.22. The firm has a market cap of $366.71 million, a price-to-earnings ratio of -23.00 and a beta of 0.76.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Roth Mkm restated a “buy” rating and set a $12.00 target price on shares of biote in a research note on Monday, August 14th. TD Cowen lowered their price objective on shares of biote from $12.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 15th.

biote Profile

biote Corp. operates in medical practice-building business within the hormone optimization space. The company offers a platform for Biote-certified practitioners to optimize imbalances in their patient's hormone, vitamin, and mineral levels, as well as prescribe bioidentical hormone therapies and recommend dietary supplements.