Short Interest in biote Corp. (NASDAQ:BTMD) Declines By 8.5%

biote Corp. (NASDAQ:BTMD) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 806,900 shares, a decrease of 8.5% from the October 15th total of 881,500 shares. Currently, 2.7% of the company’s shares are sold short. Based on an average daily volume of 155,700 shares, the days-to-cover ratio is presently 5.2 days.

biote Stock Up 13.2 %

Shares of biote stock traded up $0.71 on Monday, hitting $6.10. The stock had a trading volume of 294,717 shares, compared to its average volume of 165,581. The stock’s 50-day simple moving average is $5.52 and its two-hundred day simple moving average is $6.29. biote has a one year low of $3.65 and a one year high of $8.44. The stock has a market cap of $330.74 million, a price-to-earnings ratio of 23.08 and a beta of 0.94.

Institutional Trading of biote

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in biote in the 2nd quarter worth approximately $42,000. The Manufacturers Life Insurance Company bought a new stake in shares of biote during the 2nd quarter valued at about $84,000. MetLife Investment Management LLC boosted its stake in shares of biote by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 16,582 shares of the company’s stock valued at $93,000 after purchasing an additional 9,343 shares in the last quarter. Jane Street Group LLC increased its position in shares of biote by 24.7% during the third quarter. Jane Street Group LLC now owns 16,873 shares of the company’s stock valued at $94,000 after buying an additional 3,342 shares during the period. Finally, Quarry LP bought a new position in biote in the third quarter worth about $104,000. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

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.