Renaissance Technologies LLC Increases Stake in biote Corp. (NASDAQ:BTMD)

Renaissance Technologies LLC increased its position in shares of biote Corp. (NASDAQ:BTMD) by 9.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 178,994 shares of the company’s stock after purchasing an additional 16,017 shares during the period. Renaissance Technologies LLC’s holdings in biote were worth $1,106,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BTMD. Wells Fargo & Company MN boosted its position in shares of biote by 49.9% during the fourth quarter. Wells Fargo & Company MN now owns 12,742 shares of the company’s stock valued at $79,000 after buying an additional 4,243 shares during the period. Perritt Capital Management Inc boosted its holdings in biote by 41.0% during the 4th quarter. Perritt Capital Management Inc now owns 103,150 shares of the company’s stock valued at $637,000 after acquiring an additional 30,000 shares during the period. Trexquant Investment LP grew its position in biote by 423.1% in the 4th quarter. Trexquant Investment LP now owns 101,757 shares of the company’s stock valued at $629,000 after acquiring an additional 82,303 shares during the last quarter. JPMorgan Chase & Co. increased its stake in biote by 235.7% in the fourth quarter. JPMorgan Chase & Co. now owns 58,517 shares of the company’s stock worth $362,000 after purchasing an additional 41,086 shares during the period. Finally, WINTON GROUP Ltd lifted its position in shares of biote by 13.8% during the fourth quarter. WINTON GROUP Ltd now owns 77,572 shares of the company’s stock worth $479,000 after purchasing an additional 9,432 shares during the last quarter. 21.68% of the stock is owned by hedge funds and other institutional investors.

biote Stock Performance

Shares of NASDAQ BTMD opened at $3.54 on Wednesday. biote Corp. has a 52-week low of $3.04 and a 52-week high of $8.44. The firm has a market capitalization of $193.67 million, a price-to-earnings ratio of 13.62 and a beta of 1.17. The stock has a 50 day moving average price of $3.75 and a 200 day moving average price of $5.03.

Analysts Set New Price Targets

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

Insider Buying and Selling at biote

In other biote news, major shareholder Guines Llc purchased 750,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was purchased at an average price of $3.22 per share, with a total value of $2,415,000.00. Following the transaction, the insider now owns 3,820,938 shares of the company’s stock, valued at approximately $12,303,420.36. This trade represents a 24.42 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen Mark Cone acquired 38,104 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were 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 of the company’s stock, valued at $624,016.52. This trade represents a 31.05 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 974,110 shares of company stock valued at $3,170,331 in the last ninety days. Corporate insiders own 24.00% 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.