Sean F. Scanlan Sells 50,000 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) insider Sean F. Scanlan sold 50,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $7.97, for a total transaction of $398,500.00. Following the sale, the insider now owns 364,081 shares in the company, valued at $2,901,725.57. The trade was a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Treace Medical Concepts Stock Up 0.4 %

Treace Medical Concepts stock opened at $8.25 on Friday. The firm has a 50 day moving average price of $9.22 and a two-hundred day moving average price of $7.46. The firm has a market cap of $516.61 million, a price-to-earnings ratio of -8.33 and a beta of 0.77. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. Treace Medical Concepts, Inc. has a 52-week low of $3.92 and a 52-week high of $13.24.

Analyst Upgrades and Downgrades

TMCI has been the topic of several recent research reports. Lake Street Capital initiated coverage on shares of Treace Medical Concepts in a research report on Tuesday, December 31st. They set a “buy” rating and a $14.50 target price on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Truist Financial cut their target price on shares of Treace Medical Concepts from $10.00 to $9.50 and set a “hold” rating on the stock in a research report on Thursday, March 13th. Finally, BTIG Research upgraded shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Treace Medical Concepts has an average rating of “Hold” and an average target price of $10.14.

Institutional Trading of Treace Medical Concepts

Several hedge funds have recently modified their holdings of TMCI. JPMorgan Chase & Co. increased its stake in shares of Treace Medical Concepts by 215.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company’s stock valued at $7,321,000 after acquiring an additional 861,689 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Treace Medical Concepts by 22.9% in the 4th quarter. William Blair Investment Management LLC now owns 2,938,848 shares of the company’s stock valued at $21,865,000 after acquiring an additional 546,787 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Treace Medical Concepts in the 4th quarter valued at $1,414,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of Treace Medical Concepts in the 4th quarter valued at $1,025,000. Finally, Birchview Capital LP increased its stake in shares of Treace Medical Concepts by 136.1% in the 4th quarter. Birchview Capital LP now owns 161,350 shares of the company’s stock valued at $1,200,000 after acquiring an additional 93,000 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.

About Treace Medical Concepts

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.