Treace Medical Concepts, Inc. (NASDAQ:TMCI) Short Interest Update

Treace Medical Concepts, Inc. (NASDAQ:TMCI) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 4,660,000 shares, an increase of 18.0% from the June 30th total of 3,950,000 shares. Currently, 10.6% of the shares of the company are short sold. Based on an average trading volume of 1,420,000 shares, the short-interest ratio is currently 3.3 days.

Insider Activity

In other news, CEO John T. Treace acquired 150,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was bought at an average price of $4.58 per share, with a total value of $687,000.00. Following the transaction, the chief executive officer now directly owns 5,943,095 shares in the company, valued at approximately $27,219,375.10. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO John T. Treace acquired 150,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was bought at an average price of $4.58 per share, with a total value of $687,000.00. Following the transaction, the chief executive officer now directly owns 5,943,095 shares in the company, valued at approximately $27,219,375.10. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John T. Treace acquired 45,000 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was purchased at an average cost of $5.88 per share, with a total value of $264,600.00. Following the transaction, the chief executive officer now owns 6,388,095 shares in the company, valued at $37,561,998.60. The disclosure for this purchase can be found here. Insiders bought a total of 593,902 shares of company stock valued at $2,930,422 in the last quarter. Company insiders own 24.43% of the company’s stock.

Hedge Funds Weigh In On Treace Medical Concepts

A number of institutional investors have recently added to or reduced their stakes in TMCI. GAMMA Investing LLC increased its position in Treace Medical Concepts by 3,441.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock worth $31,000 after purchasing an additional 4,508 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Treace Medical Concepts by 34,240.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock worth $62,000 after purchasing an additional 9,245 shares in the last quarter. CWM LLC increased its position in Treace Medical Concepts by 208.7% during the 2nd quarter. CWM LLC now owns 10,097 shares of the company’s stock worth $67,000 after purchasing an additional 6,826 shares in the last quarter. Quest Partners LLC acquired a new position in Treace Medical Concepts during the 4th quarter worth approximately $68,000. Finally, Newbridge Financial Services Group Inc. increased its position in Treace Medical Concepts by 100.3% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock worth $91,000 after purchasing an additional 3,567 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TMCI has been the subject of several research analyst reports. BTIG Research downgraded shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating in a report on Wednesday, May 8th. UBS Group downgraded shares of Treace Medical Concepts from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $16.00 to $6.50 in a report on Thursday, May 16th. JPMorgan Chase & Co. downgraded shares of Treace Medical Concepts from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $15.00 to $8.00 in a report on Wednesday, May 8th. Truist Financial lifted their target price on shares of Treace Medical Concepts from $7.00 to $9.00 and gave the stock a “hold” rating in a report on Tuesday, July 16th. Finally, Morgan Stanley lifted their target price on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Seven equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.86.

Treace Medical Concepts Trading Down 1.4 %

Shares of Treace Medical Concepts stock opened at $7.72 on Friday. Treace Medical Concepts has a twelve month low of $3.92 and a twelve month high of $23.33. The company has a current ratio of 3.98, a quick ratio of 3.22 and a debt-to-equity ratio of 0.42. The company has a 50-day simple moving average of $6.46 and a two-hundred day simple moving average of $10.21.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Tuesday, May 7th. The company reported ($0.30) EPS for the quarter, meeting the consensus estimate of ($0.30). The company had revenue of $51.11 million during the quarter, compared to analysts’ expectations of $49.07 million. Treace Medical Concepts had a negative net margin of 27.93% and a negative return on equity of 39.66%. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.23) EPS. Equities research analysts predict that Treace Medical Concepts will post -0.89 EPS for the current year.

About Treace Medical Concepts

Treace Medical Concepts, Inc, a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity.