biote Corp. (NASDAQ:BTMD) Short Interest Update

biote Corp. (NASDAQ:BTMD - Get Free Report) was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 1,280,000 shares, a decline of 13.5% from the July 15th total of 1,480,000 shares. Based on an average trading volume of 243,400 shares, the days-to-cover ratio is presently 5.3 days. Approximately 4.6% of the company's stock are short sold.

Insider Activity at biote

In related news, CFO Robert Charles Peterson sold 11,376 shares of the business's stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $7.57, for a total value of $86,116.32. Following the sale, the chief financial officer now directly owns 32,874 shares of the company's stock, valued at approximately $248,856.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On biote

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in shares of biote by 1,016.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 660,069 shares of the company's stock worth $4,931,000 after purchasing an additional 600,956 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of biote by 251.8% during the 2nd quarter. Renaissance Technologies LLC now owns 193,077 shares of the company's stock worth $1,442,000 after purchasing an additional 138,200 shares during the last quarter. Bandera Partners LLC increased its stake in shares of biote by 7.5% during the 4th quarter. Bandera Partners LLC now owns 1,832,732 shares of the company's stock worth $9,054,000 after purchasing an additional 127,410 shares during the last quarter. Sanders Morris Harris LLC acquired a new position in shares of biote during the 2nd quarter worth about $585,000. Finally, GDS Wealth Management acquired a new position in shares of biote during the 2nd quarter worth about $432,000. 21.68% of the stock is currently owned by institutional investors and hedge funds.

biote Price Performance

BTMD stock traded down $0.26 during midday trading on Friday, hitting $5.79. The company's stock had a trading volume of 282,979 shares, compared to its average volume of 167,782. biote has a twelve month low of $3.65 and a twelve month high of $8.44. The company's fifty day moving average price is $7.19 and its 200 day moving average price is $6.21. The stock has a market capitalization of $359.19 million, a P/E ratio of 52.64 and a beta of 0.98.

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.

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