589,617 Shares in Treace Medical Concepts, Inc. $TMCI Purchased by Weber Capital Management LLC ADV

Weber Capital Management LLC ADV acquired a new position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 589,617 shares of the company’s stock, valued at approximately $2,346,676,000. Treace Medical Concepts makes up approximately 2.0% of Weber Capital Management LLC ADV’s investment portfolio, making the stock its 10th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in TMCI. Armistice Capital LLC lifted its holdings in shares of Treace Medical Concepts by 0.8% during the 4th quarter. Armistice Capital LLC now owns 6,364,000 shares of the company’s stock worth $15,592,000 after acquiring an additional 48,000 shares during the period. Bank of America Corp DE increased its stake in Treace Medical Concepts by 38.9% in the first quarter. Bank of America Corp DE now owns 3,214,293 shares of the company’s stock valued at $4,307,000 after acquiring an additional 900,071 shares during the last quarter. Gagnon Securities LLC increased its stake 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 valued at $7,621,000 after acquiring an additional 852,337 shares during the last quarter. Millennium Management LLC raised its position in Treace Medical Concepts by 12.7% during the third quarter. Millennium Management LLC now owns 1,710,140 shares of the company’s stock valued at $11,475,000 after purchasing an additional 192,929 shares in the last quarter. Finally, Gagnon Advisors LLC raised 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 valued at $3,758,000 after purchasing an additional 565,570 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $4.34 on Monday. Treace Medical Concepts, Inc. has a 52-week low of $1.17 and a 52-week high of $7.78. The company has a market capitalization of $282.27 million, a PE ratio of -4.67 and a beta of 1.37. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.95 and a current ratio of 2.90. The company has a fifty day moving average of $4.35 and a 200-day moving average of $2.89.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings results on Friday, August 7th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $44.02 million. On average, equities analysts predict that Treace Medical Concepts, Inc. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Treace Medical Concepts news, CEO John T. Treace bought 22,887 shares of Treace Medical Concepts stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $4.04 per share, with a total value of $92,463.48. Following the acquisition, the chief executive officer directly owned 7,376,150 shares of the company’s stock, valued at $29,799,646. The trade was a 0.31% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders have purchased 217,837 shares of company stock worth $729,134. 23.42% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TMCI. Wall Street Zen raised Treace Medical Concepts from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Weiss Ratings downgraded Treace Medical Concepts from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, August 14th. Finally, Truist Financial raised their price objective on Treace Medical Concepts from $4.00 to $5.00 and gave the company a “hold” rating in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $5.17.

Treace Medical Concepts 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.