Treace Medical Concepts (NASDAQ:TMCI) Lowered to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Treace Medical Concepts (NASDAQ:TMCI) from a hold rating to a sell rating in a report released on Sunday.

Several other analysts have also issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Wednesday, January 21st. UBS Group lowered their price target on Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating on the stock in a research note on Friday, November 7th. BTIG Research reaffirmed a “neutral” rating on shares of Treace Medical Concepts in a report on Friday, November 7th. Stifel Nicolaus decreased their price objective on Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $5.00 target price (down from $8.00) on shares of Treace Medical Concepts in a research note on Friday, November 7th. Four research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average price target of $4.21.

Treace Medical Concepts Stock Performance

TMCI opened at $1.86 on Friday. The company has a quick ratio of 2.36, a current ratio of 3.37 and a debt-to-equity ratio of 0.60. The stock’s 50 day moving average price is $2.51 and its two-hundred day moving average price is $4.67. The firm has a market capitalization of $118.52 million, a P/E ratio of -2.33 and a beta of 0.74. Treace Medical Concepts has a 12-month low of $1.86 and a 12-month high of $10.30.

Institutional Trading of Treace Medical Concepts

A number of large investors have recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new position in Treace Medical Concepts during the first quarter worth $491,000. Millennium Management LLC grew its holdings in shares of Treace Medical Concepts by 35.3% in the 1st quarter. Millennium Management LLC now owns 444,887 shares of the company’s stock worth $3,733,000 after purchasing an additional 116,114 shares during the last quarter. William Blair Investment Management LLC grew its holdings in shares of Treace Medical Concepts by 1.3% in the 2nd quarter. William Blair Investment Management LLC now owns 3,099,895 shares of the company’s stock worth $18,227,000 after purchasing an additional 39,283 shares during the last quarter. AlphaQuest LLC increased its position in shares of Treace Medical Concepts by 93.9% during the 2nd quarter. AlphaQuest LLC now owns 20,250 shares of the company’s stock worth $119,000 after purchasing an additional 9,804 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its holdings in Treace Medical Concepts by 645.8% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 232,413 shares of the company’s stock valued at $1,367,000 after purchasing an additional 201,252 shares during the last quarter. 84.08% of the stock is currently owned by institutional investors.

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.