John Treace Purchases 39,944 Shares of Treace Medical Concepts (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace bought 39,944 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was purchased at an average price of $4.44 per share, with a total value of $177,351.36. Following the transaction, the chief executive officer owned 7,388,383 shares in the company, valued at approximately $32,804,420.52. This represents a 0.54% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Treace Medical Concepts Stock Performance

TMCI stock opened at $4.81 on Wednesday. The company has a current ratio of 2.90, a quick ratio of 1.95 and a debt-to-equity ratio of 0.83. The firm has a market cap of $312.84 million, a P/E ratio of -5.17 and a beta of 1.37. Treace Medical Concepts, Inc. has a 12-month low of $1.17 and a 12-month high of $7.65. The stock’s 50 day simple moving average is $4.38 and its 200 day simple moving average is $2.93.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Friday, August 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.06. Treace Medical Concepts had a negative net margin of 28.99% and a negative return on equity of 71.37%. The firm had revenue of $45.38 million during the quarter, compared to the consensus estimate of $44.02 million. As a group, equities research analysts predict that Treace Medical Concepts, Inc. will post -0.83 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TMCI. Truist Financial boosted their price objective 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 downgraded Treace Medical Concepts from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Friday, August 14th. Finally, Wall Street Zen upgraded Treace Medical Concepts from a “sell” rating to a “hold” rating in a research report on Saturday, June 20th. One 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 company’s stock. Based on data from MarketBeat.com, Treace Medical Concepts has a consensus rating of “Reduce” and a consensus target price of $5.17.

Hedge Funds Weigh In On Treace Medical Concepts

Several institutional investors have recently modified their holdings of TMCI. Renaissance Technologies LLC acquired a new position in Treace Medical Concepts during the 1st quarter valued at about $701,000. Weber Capital Management LLC ADV acquired a new stake in shares of Treace Medical Concepts in the fourth quarter valued at approximately $1,445,000. GSA Capital Partners LLP raised its holdings in shares of Treace Medical Concepts by 212.5% during the fourth quarter. GSA Capital Partners LLP now owns 347,755 shares of the company’s stock valued at $852,000 after buying an additional 236,477 shares during the last quarter. Gagnon Advisors LLC raised its holdings in shares of 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 buying an additional 565,570 shares during the last quarter. Finally, Gagnon Securities LLC boosted its position in shares of Treace Medical Concepts by 37.7% during the fourth quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock worth $7,621,000 after buying an additional 852,337 shares during the period. Institutional investors own 84.08% of the company’s stock.

About Treace Medical Concepts

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.