biote Corp. (NASDAQ:BTMD) Short Interest Update

biote Corp. (NASDAQ:BTMD) saw a significant decline in short interest in October. As of October 31st, there was short interest totalling 806,900 shares, a decline of 8.5% from the October 15th total of 881,500 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 155,700 shares, the short-interest ratio is currently 5.2 days.

biote Price Performance

NASDAQ:BTMD traded down $1.18 during trading hours on Friday, reaching $5.39. 484,535 shares of the company were exchanged, compared to its average volume of 129,898. The business has a 50 day moving average of $5.52 and a 200 day moving average of $6.28. biote has a 1-year low of $3.65 and a 1-year high of $8.44. The company has a market capitalization of $292.25 million, a P/E ratio of 20.73 and a beta of 0.94.

Institutional Trading of biote

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

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.