biote Corp. (NASDAQ:BTMD) Short Interest Update

biote Corp. (NASDAQ:BTMD) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 1,280,000 shares, a decrease of 13.5% from the July 15th total of 1,480,000 shares. Currently, 4.6% of the company’s shares are short sold. Based on an average daily trading volume, of 243,400 shares, the days-to-cover ratio is presently 5.3 days.

Insider Buying and Selling

In other news, CFO Robert Charles Peterson sold 11,376 shares of the company’s stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $7.57, for a total transaction of $86,116.32. Following the completion of the transaction, the chief financial officer now owns 32,874 shares of the company’s stock, valued at approximately $248,856.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 13.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On biote

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC purchased a new stake in biote during the 2nd quarter worth $42,000. SG Americas Securities LLC purchased a new stake in shares of biote during the 4th quarter valued at about $53,000. The Manufacturers Life Insurance Company acquired a new position in biote during the 2nd quarter worth approximately $84,000. Bailard Inc. acquired a new stake in biote in the fourth quarter valued at approximately $96,000. Finally, Rhumbline Advisers raised its stake in shares of biote by 104.2% during the second quarter. Rhumbline Advisers now owns 28,225 shares of the company’s stock valued at $211,000 after purchasing an additional 14,404 shares during the period. 21.68% of the stock is currently owned by hedge funds and other institutional investors.

biote Price Performance

biote stock opened at $5.79 on Monday. The stock’s 50-day moving average is $7.19 and its 200-day moving average is $6.23. The company has a market cap of $359.19 million, a price-to-earnings ratio of 52.64 and a beta of 0.98. biote has a 12 month low of $3.65 and a 12 month high of $8.44.

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.