biote (NASDAQ:BTMD) Coverage Initiated at Craig Hallum

Equities research analysts at Craig Hallum began coverage on shares of biote (NASDAQ:BTMD) in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage set a “buy” rating on the stock.

biote Stock Up 1.1 %

BTMD stock opened at $6.44 on Monday. biote has a twelve month low of $3.65 and a twelve month high of $8.44. The company has a market cap of $349.93 million, a P/E ratio of 24.50 and a beta of 1.07. The business has a fifty day moving average of $5.82 and a 200-day moving average of $6.35.

Institutional Trading of biote

Several institutional investors and hedge funds have recently made changes to their positions in BTMD. Bank of New York Mellon Corp boosted its stake in biote by 59.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 94,318 shares of the company’s stock worth $705,000 after acquiring an additional 34,999 shares during the last quarter. Bailard Inc. acquired a new position in shares of biote in the 2nd quarter valued at $146,000. Allspring Global Investments Holdings LLC bought a new stake in shares of biote in the 2nd quarter valued at $42,000. Skylands Capital LLC raised its stake in biote by 36.2% during the 2nd quarter. Skylands Capital LLC now owns 160,845 shares of the company’s stock worth $1,202,000 after buying an additional 42,729 shares during the period. Finally, Rhumbline Advisers lifted its holdings in biote by 104.2% during the second quarter. Rhumbline Advisers now owns 28,225 shares of the company’s stock worth $211,000 after acquiring an additional 14,404 shares in the last quarter. Institutional investors own 21.68% of the company’s stock.

biote Company 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.