Gagnon Advisors LLC Raises Position in Treace Medical Concepts, Inc. $TMCI

Gagnon Advisors LLC boosted its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 58.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,534,034 shares of the company’s stock after acquiring an additional 565,570 shares during the quarter. Treace Medical Concepts makes up approximately 2.4% of Gagnon Advisors LLC’s holdings, making the stock its 18th biggest holding. Gagnon Advisors LLC’s holdings in Treace Medical Concepts were worth $3,758,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. Osaic Holdings Inc. grew its holdings in Treace Medical Concepts by 328.3% in the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after acquiring an additional 3,674 shares during the last quarter. HighTower Advisors LLC bought a new stake in Treace Medical Concepts in the 4th quarter worth $33,000. Balance Wealth LLC bought a new stake in Treace Medical Concepts in the 4th quarter worth $37,000. AXQ Capital LP bought a new stake in Treace Medical Concepts in the 4th quarter worth $42,000. Finally, SG Americas Securities LLC bought a new stake in Treace Medical Concepts in the 4th quarter worth $46,000. Institutional investors own 84.08% of the company’s stock.

Insider Buying and Selling

In related news, CEO John T. Treace acquired 61,750 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $2.62 per share, for a total transaction of $161,785.00. Following the acquisition, the chief executive officer owned 7,158,313 shares of the company’s stock, valued at $18,754,780.06. This trade represents a 0.87% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. In the last three months, insiders have acquired 371,600 shares of company stock valued at $1,104,801. 23.42% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TMCI shares. Wall Street Zen raised shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Finally, Lake Street Capital cut their price target on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a report on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $4.77.

Treace Medical Concepts Stock Up 3.8%

Shares of NASDAQ TMCI opened at $4.06 on Friday. The company has a current ratio of 3.58, a quick ratio of 2.53 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 firm has a market capitalization of $263.37 million, a PE ratio of -4.19 and a beta of 1.40. The firm has a fifty day simple moving average of $2.47 and a two-hundred day simple moving average of $2.30.

Treace Medical Concepts (NASDAQ:TMCI) last issued 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 net margin of 29.44% and a negative return on equity of 67.04%. The business had revenue of $47.20 million during the quarter, compared to analyst estimates of $45.96 million. Equities analysts expect that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current year.

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.