Treace Medical Concepts (NASDAQ:TMCI) CEO John Treace Acquires 61,202 Shares

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 61,202 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was bought at an average cost of $3.02 per share, for a total transaction of $184,830.04. Following the purchase, the chief executive officer directly owned 7,273,833 shares in the company, valued at $21,966,975.66. This trade represents a 0.85% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Treace Medical Concepts Price Performance

Treace Medical Concepts stock traded up $0.18 during trading on Thursday, reaching $3.08. The company had a trading volume of 442,680 shares, compared to its average volume of 764,288. The firm’s 50-day simple moving average is $1.91 and its 200 day simple moving average is $2.25. Treace Medical Concepts, Inc. has a 1-year low of $1.17 and a 1-year high of $7.78. The firm has a market capitalization of $199.80 million, a PE ratio of -3.18 and a beta of 1.10. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.53 and a current ratio of 3.58.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings results on Friday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $47.20 million for the quarter, compared to analysts’ expectations of $45.96 million. As a group, equities research analysts anticipate that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TMCI. CIBC Bancorp USA Inc. purchased a new position in Treace Medical Concepts in the 3rd quarter valued at $122,199,000. Bank of America Corp DE lifted its holdings in Treace Medical Concepts by 38.9% in the 1st 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 in the last quarter. Gagnon Securities LLC lifted its holdings in Treace Medical Concepts by 37.7% in the 4th quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock valued at $7,621,000 after purchasing an additional 852,337 shares in the last quarter. Weber Capital Management LLC ADV purchased a new position in shares of Treace Medical Concepts during the 4th quarter worth $1,445,000. Finally, Gagnon Advisors LLC raised its holdings in shares of Treace Medical Concepts by 58.4% during the 4th quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company’s stock worth $3,758,000 after acquiring an additional 565,570 shares during the period. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Wall Street Analyst Weigh In

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

Treace Medical Concepts Company 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.