biote Corp. (NASDAQ:BTMD) Sees Significant Decline in Short Interest

biote Corp. (NASDAQ:BTMD) saw a large decline in short interest during the month of 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. Based on an average daily volume of 155,700 shares, the short-interest ratio is presently 5.2 days. Currently, 2.7% of the shares of the company are sold short.

Institutional Trading of biote

A number of hedge funds have recently made changes to their positions in BTMD. Barclays PLC raised its stake in biote by 52.3% in the 3rd quarter. Barclays PLC now owns 77,196 shares of the company’s stock valued at $432,000 after acquiring an additional 26,510 shares during the period. K2 Principal Fund L.P. bought a new position in shares of biote in the third quarter valued at about $277,000. Jane Street Group LLC raised its position in shares of 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 purchasing an additional 3,342 shares during the period. Wellington Management Group LLP bought a new stake in shares of biote during the 3rd quarter worth about $295,000. Finally, State Street Corp grew its stake in biote by 13.7% in the 3rd quarter. State Street Corp now owns 475,491 shares of the company’s stock valued at $2,653,000 after buying an additional 57,290 shares during the last quarter. 21.68% of the stock is owned by institutional investors and hedge funds.

biote Stock Down 18.0 %

Shares of BTMD stock traded down $1.18 on Friday, reaching $5.39. The stock had a trading volume of 484,535 shares, compared to its average volume of 129,898. biote has a 12 month low of $3.65 and a 12 month high of $8.44. The firm has a market capitalization of $292.25 million, a price-to-earnings ratio of 20.73 and a beta of 0.94. The firm’s 50-day moving average is $5.52 and its two-hundred day moving average is $6.28.

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.