Treace Medical Concepts (NASDAQ:TMCI) CEO Acquires $21,750.00 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 5,000 shares of Treace Medical Concepts stock in a transaction on Friday, August 21st. The shares were acquired at an average cost of $4.35 per share, with a total value of $21,750.00. Following the completion of the transaction, the chief executive officer directly owned 7,393,383 shares in the company, valued at $32,161,216.05. The trade was a 0.07% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Treace Medical Concepts Trading Down 1.9%

NASDAQ TMCI opened at $4.72 on Thursday. The company has a market capitalization of $306.99 million, a PE ratio of -5.08 and a beta of 1.37. The company has a fifty day moving average of $4.39 and a 200 day moving average of $2.95. Treace Medical Concepts, Inc. has a 1 year low of $1.17 and a 1 year high of $7.63. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.90 and a quick ratio of 1.95.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings results on Friday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.06. Treace Medical Concepts had a negative return on equity of 71.37% and a negative net margin of 28.99%.The company had revenue of $45.38 million during the quarter, compared to the consensus estimate of $44.02 million. Research analysts forecast that Treace Medical Concepts, Inc. will post -0.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Renaissance Technologies LLC purchased a new position in Treace Medical Concepts during the 1st quarter valued at about $701,000. Weber Capital Management LLC ADV purchased a new stake in shares of Treace Medical Concepts in the fourth quarter valued at about $1,445,000. GSA Capital Partners LLP grew its position in shares of Treace Medical Concepts by 212.5% in the fourth quarter. GSA Capital Partners LLP now owns 347,755 shares of the company’s stock valued at $852,000 after purchasing an additional 236,477 shares during the last quarter. Gagnon Advisors LLC grew its position in shares of Treace Medical Concepts by 58.4% in the fourth quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company’s stock valued at $3,758,000 after purchasing an additional 565,570 shares during the last quarter. Finally, Gagnon Securities LLC increased its stake in shares of Treace Medical Concepts by 37.7% during the 4th quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock worth $7,621,000 after purchasing an additional 852,337 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

Analyst Ratings Changes

TMCI has been the subject of a number of recent research reports. Truist Financial increased their target price on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the company a “hold” rating in a research report on Monday, August 10th. Weiss Ratings lowered shares of Treace Medical Concepts from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Finally, Wall Street Zen raised shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $5.17.

Treace Medical Concepts Company Profile

Treace Medical Concepts, Inc is a medical technology company specializing in the development and commercialization of innovative surgical solutions for foot and ankle conditions. The company’s flagship product, the Lapiplasty 3D Bunion Correction System, addresses the underlying joint instability that causes bunion deformity through a patented, multi-plane correction approach. The system combines proprietary instrumentation, fixation plates, and a comprehensive surgical protocol designed to improve patient outcomes and reduce recurrence rates.

The Lapiplasty System has received clearance from the U.S.