Treace Medical Concepts, Inc. (NASDAQ:TMCI) Short Interest Down 46.6% in June

Treace Medical Concepts, Inc. (NASDAQ:TMCI) saw a large drop in short interest in June. As of June 30th, there was short interest totaling 1,748,502 shares, a drop of 46.6% from the June 15th total of 3,271,388 shares. Currently, 3.5% of the company’s stock are sold short. Based on an average trading volume of 1,687,961 shares, the short-interest ratio is presently 1.0 days.

Analyst Ratings Changes

Several equities analysts have recently commented on TMCI shares. Weiss Ratings raised shares of Treace Medical Concepts from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. Wall Street Zen upgraded Treace Medical Concepts from a “sell” rating to a “hold” rating in a research note on Saturday, June 20th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Treace Medical Concepts currently has an average rating of “Reduce” and an average price target of $4.77.

Treace Medical Concepts Price Performance

TMCI opened at $4.44 on Wednesday. The firm has a market cap of $288.02 million, a price-to-earnings ratio of -4.58 and a beta of 1.37. Treace Medical Concepts has a fifty-two week low of $1.17 and a fifty-two week high of $7.78. The company’s 50-day moving average price is $3.57 and its 200 day moving average price is $2.53. The company has a quick ratio of 2.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.72.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Friday, May 8th. The company reported ($0.28) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.03. The company had revenue of $47.20 million during the quarter, compared to the consensus estimate of $45.96 million. Treace Medical Concepts had a negative return on equity of 67.04% and a negative net margin of 29.44%. As a group, sell-side analysts expect that Treace Medical Concepts will post -0.88 earnings per share for the current year.

Insider Buying and Selling at Treace Medical Concepts

In related news, CEO John T. Treace bought 22,887 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $4.04 per share, with a total value of $92,463.48. Following the transaction, the chief executive officer owned 7,376,150 shares of the company’s stock, valued at approximately $29,799,646. This trade represents a 0.31% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have bought 371,600 shares of company stock valued at $1,104,801. 23.42% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Treace Medical Concepts

Several large investors have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. acquired a new position in shares of Treace Medical Concepts during the third quarter valued at $122,199,000. Armistice Capital LLC grew its position in Treace Medical Concepts by 0.8% in the 4th quarter. Armistice Capital LLC now owns 6,364,000 shares of the company’s stock worth $15,592,000 after purchasing an additional 48,000 shares during the last quarter. Bank of America Corp DE increased its stake in shares of 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 purchasing an additional 900,071 shares during the period. 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. Finally, Millennium Management LLC grew its holdings in Treace Medical Concepts by 12.7% in the 3rd quarter. Millennium Management LLC now owns 1,710,140 shares of the company’s stock worth $11,475,000 after buying an additional 192,929 shares in the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

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.