Treace Medical Concepts (NASDAQ:TMCI) CEO John Treace Acquires 61,750 Shares

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 61,750 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was bought at an average price of $2.62 per share, with a total value of $161,785.00. Following the completion of the purchase, the chief executive officer owned 7,158,313 shares of the company’s stock, valued at approximately $18,754,780.06. This represents a 0.87% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Treace Medical Concepts Stock Up 9.5%

Shares of Treace Medical Concepts stock traded up $0.24 on Thursday, reaching $2.77. 1,185,002 shares of the company were exchanged, compared to its average volume of 781,841. The company has a market capitalization of $179.69 million, a price-to-earnings ratio of -2.86 and a beta of 1.10. The company has a current ratio of 3.58, a quick ratio of 3.13 and a debt-to-equity ratio of 0.72. Treace Medical Concepts, Inc. has a one year low of $1.17 and a one year high of $7.78. The company has a 50-day moving average of $1.64 and a 200 day moving average of $2.52.

Treace Medical Concepts (NASDAQ:TMCI) last released its earnings results on Friday, May 8th. The company reported ($0.28) earnings per share for the quarter, beating 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 analysts’ expectations of $45.96 million. On average, equities research analysts forecast that Treace Medical Concepts, Inc. will post -0.91 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. bought a new position in Treace Medical Concepts during the 3rd quarter worth $122,199,000. Gagnon Securities LLC boosted its position in shares of Treace Medical Concepts by 37.7% in the fourth quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company’s stock valued at $7,621,000 after acquiring an additional 852,337 shares during the period. Weber Capital Management LLC ADV acquired a new position in shares of Treace Medical Concepts in the fourth quarter valued at about $1,445,000. Gagnon Advisors LLC grew its stake in shares of Treace Medical Concepts by 58.4% in the fourth quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company’s stock valued at $3,758,000 after acquiring an additional 565,570 shares in the last quarter. Finally, William Blair Investment Management LLC increased its position in Treace Medical Concepts by 17.2% during the third quarter. William Blair Investment Management LLC now owns 3,634,381 shares of the company’s stock worth $24,387,000 after acquiring an additional 534,486 shares during the period. 84.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TMCI has been the topic of a number of research analyst reports. 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. Lake Street Capital lowered their price target on Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock 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 investment analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus 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.