Treace Medical Concepts (NASDAQ:TMCI) CEO John Treace Acquires 49,013 Shares

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace acquired 49,013 shares of the stock in a transaction on Wednesday, May 13th. The stock was bought at an average price of $2.46 per share, for a total transaction of $120,571.98. Following the transaction, the chief executive officer owned 7,096,563 shares in the company, valued at approximately $17,457,544.98. This represents a 0.70% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Treace Medical Concepts Trading Up 9.5%

Treace Medical Concepts stock opened at $2.77 on Friday. The company has a current ratio of 3.58, a quick ratio of 3.13 and a debt-to-equity ratio of 0.72. Treace Medical Concepts, Inc. has a 12 month low of $1.17 and a 12 month high of $7.78. The stock’s 50 day simple moving average is $1.67 and its two-hundred day simple moving average is $2.49. The firm has a market cap of $179.70 million, a PE ratio of -2.86 and a beta of 1.10.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate 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 business had revenue of $47.20 million for the quarter, compared to analyst estimates of $45.96 million. Analysts anticipate that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current year.

Hedge Funds Weigh In On Treace Medical Concepts

A number of hedge funds and other institutional investors have recently bought and sold shares of TMCI. CIBC Bancorp USA Inc. purchased a new position in Treace Medical Concepts during the 3rd quarter valued at about $122,199,000. Gagnon Securities LLC boosted its holdings in Treace Medical Concepts by 37.7% during the 4th 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 period. Weber Capital Management LLC ADV purchased a new position in Treace Medical Concepts during the 4th quarter valued at about $1,445,000. Gagnon Advisors LLC boosted its holdings in Treace Medical Concepts by 58.4% during the 4th quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company’s stock valued at $3,758,000 after acquiring an additional 565,570 shares during the period. Finally, William Blair Investment Management LLC boosted its holdings in Treace Medical Concepts by 17.2% during the 3rd quarter. William Blair Investment Management LLC now owns 3,634,381 shares of the company’s stock valued at $24,387,000 after acquiring an additional 534,486 shares during the period. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TMCI. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Monday, April 20th. Lake Street Capital cut their target price on Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 2nd. Finally, Wall Street Zen raised Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research note on Monday, April 27th. One investment 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 stock presently has a consensus rating of “Reduce” and an average target price of $4.77.

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.