biote (NASDAQ:BTMD) Price Target Cut to $8.00 by Analysts at Craig Hallum

biote (NASDAQ:BTMD) had its target price decreased by Craig Hallum from $12.00 to $8.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Craig Hallum’s price objective would suggest a potential upside of 148.76% from the stock’s current price.

biote Stock Performance

NASDAQ BTMD opened at $3.22 on Thursday. The company’s 50-day simple moving average is $5.07 and its two-hundred day simple moving average is $5.59. biote has a one year low of $3.63 and a one year high of $8.44. The company has a market capitalization of $174.75 million, a price-to-earnings ratio of 12.78 and a beta of 1.07.

Institutional Investors Weigh In On biote

A number of institutional investors and hedge funds have recently modified their holdings of BTMD. Dimensional Fund Advisors LP grew its holdings in biote by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 681,524 shares of the company’s stock worth $4,211,000 after acquiring an additional 3,065 shares during the period. Jane Street Group LLC boosted its holdings in biote by 24.7% during the third quarter. Jane Street Group LLC now owns 16,873 shares of the company’s stock worth $94,000 after buying an additional 3,342 shares in the last quarter. Ameriprise Financial Inc. grew its position in biote by 10.2% during the fourth quarter. Ameriprise Financial Inc. now owns 36,214 shares of the company’s stock valued at $224,000 after buying an additional 3,351 shares during the period. Rhumbline Advisers boosted its stake in shares of biote by 11.6% during the 4th quarter. Rhumbline Advisers now owns 37,688 shares of the company’s stock worth $233,000 after acquiring an additional 3,920 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of biote by 49.9% in the 4th quarter. Wells Fargo & Company MN now owns 12,742 shares of the company’s stock valued at $79,000 after purchasing an additional 4,243 shares in the last quarter. Institutional investors and hedge funds own 21.68% 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.