Treace Medical Concepts (NASDAQ:TMCI) CEO John Treace Purchases 4,508 Shares

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace acquired 4,508 shares of Treace Medical Concepts stock in a transaction on Tuesday, May 26th. The shares were bought at an average price of $2.79 per share, for a total transaction of $12,577.32. Following the completion of the purchase, the chief executive officer directly owned 7,162,821 shares in the company, valued at $19,984,270.59. The trade was a 0.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Treace Medical Concepts Stock Performance

Shares of Treace Medical Concepts stock traded up $0.18 during trading hours on Thursday, reaching $3.08. The company’s stock had a trading volume of 443,596 shares, compared to its average volume of 764,288. The company’s 50 day simple moving average is $1.91 and its 200 day simple moving average is $2.25. 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, Inc. has a one year low of $1.17 and a one year high of $7.78. The stock has a market cap of $199.80 million, a P/E ratio of -3.18 and a beta of 1.10.

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

Institutional Investors Weigh In On Treace Medical Concepts

Several large investors have recently made changes to their positions in the company. Bank of America Corp DE raised its position in shares of Treace Medical Concepts by 38.9% during the 1st quarter. Bank of America Corp DE now owns 3,214,293 shares of the company’s stock worth $4,307,000 after buying an additional 900,071 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Treace Medical Concepts during the 1st quarter worth about $701,000. Sei Investments Co. bought a new stake in shares of Treace Medical Concepts during the 1st quarter worth about $81,000. State of Wyoming raised its position in shares of Treace Medical Concepts by 316.8% during the 1st quarter. State of Wyoming now owns 95,110 shares of the company’s stock worth $127,000 after buying an additional 72,290 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of Treace Medical Concepts by 34.0% during the 1st quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock worth $35,000 after buying an additional 6,606 shares in the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research report on Monday, April 27th. Lake Street Capital decreased their target price on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Monday, April 20th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target 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.