Treace Medical Concepts, Inc. (NASDAQ:TMCI) Short Interest Down 46.6% in June

Treace Medical Concepts, Inc. (NASDAQ:TMCI) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totaling 1,748,502 shares, a decline of 46.6% from the June 15th total of 3,271,388 shares. Based on an average daily volume of 1,687,961 shares, the short-interest ratio is presently 1.0 days. Approximately 3.5% of the company’s shares are sold short.

Treace Medical Concepts Stock Up 1.9%

Shares of NASDAQ TMCI traded up $0.09 during mid-day trading on Thursday, reaching $4.49. The company had a trading volume of 235,880 shares, compared to its average volume of 810,727. Treace Medical Concepts has a twelve month low of $1.17 and a twelve month high of $7.78. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.53 and a current ratio of 3.58. The stock has a market capitalization of $290.96 million, a PE ratio of -4.63 and a beta of 1.37. The stock’s 50 day moving average is $3.61 and its 200-day moving average is $2.55.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. Treace Medical Concepts had a negative return on equity of 67.04% and a negative net margin of 29.44%.The firm had revenue of $47.20 million during the quarter, compared to analysts’ expectations of $45.96 million. As a group, equities analysts anticipate that Treace Medical Concepts will post -0.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John T. Treace bought 61,750 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were bought at an average cost of $2.62 per share, with a total value of $161,785.00. Following the purchase, the chief executive officer directly owned 7,158,313 shares in the company, valued at $18,754,780.06. This trade represents a 0.87% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have purchased 371,600 shares of company stock worth $1,104,801. Insiders own 23.42% of the company’s stock.

Institutional Investors Weigh In On Treace Medical Concepts

Several large investors have recently made changes to their positions in TMCI. CIBC Bancorp USA Inc. acquired a new position in shares of Treace Medical Concepts during the 3rd quarter worth $122,199,000. Weber Capital Management LLC ADV acquired a new stake in shares of Treace Medical Concepts in the 4th quarter valued at $1,445,000. GSA Capital Partners LLP lifted its stake in shares of Treace Medical Concepts by 212.5% in the 4th 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 Securities LLC boosted its holdings in Treace Medical Concepts by 37.7% in the fourth 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. Finally, Gagnon Advisors LLC increased its position in Treace Medical Concepts by 58.4% during the fourth quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company’s stock worth $3,758,000 after buying an additional 565,570 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TMCI shares. Truist Financial lifted their price target on Treace Medical Concepts from $2.00 to $4.00 and gave the company a “hold” rating in a report on Thursday. Weiss Ratings upgraded Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Finally, Wall Street Zen raised shares of Treace Medical Concepts from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $4.97.

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.