GSA Capital Partners LLP Sells 42,298 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI)

GSA Capital Partners LLP decreased its stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 22.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,129 shares of the company’s stock after selling 42,298 shares during the period. GSA Capital Partners LLP owned 0.24% of Treace Medical Concepts worth $865,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions 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 valued at $31,000 after purchasing an additional 4,508 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Treace Medical Concepts by 34,240.7% during the second quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock worth $62,000 after buying an additional 9,245 shares during the period. CWM LLC increased its position in shares of Treace Medical Concepts by 208.7% during the second quarter. CWM LLC now owns 10,097 shares of the company’s stock worth $67,000 after buying an additional 6,826 shares during the period. Palumbo Wealth Management LLC bought a new position in Treace Medical Concepts during the third quarter worth $75,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Treace Medical Concepts by 59.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,685 shares of the company’s stock valued at $111,000 after buying an additional 6,227 shares during the period. 84.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TMCI. Stifel Nicolaus lifted their price objective on Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. UBS Group raised their target price on Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Truist Financial dropped their price target on Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating on the stock in a research note on Monday, October 14th. Six analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.40.

Treace Medical Concepts Stock Performance

Shares of Treace Medical Concepts stock opened at $7.61 on Friday. The business has a 50-day simple moving average of $5.67 and a 200 day simple moving average of $6.25. Treace Medical Concepts, Inc. has a one year low of $3.92 and a one year high of $15.98. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98. The firm has a market capitalization of $474.08 million, a price-to-earnings ratio of -7.69 and a beta of 0.24.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.02. Treace Medical Concepts had a negative return on equity of 51.12% and a negative net margin of 30.33%. The firm had revenue of $45.09 million during the quarter, compared to the consensus estimate of $43.48 million. During the same quarter in the previous year, the company posted ($0.28) earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Treace Medical Concepts news, CEO John T. Treace bought 50,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was bought at an average cost of $5.31 per share, with a total value of $265,500.00. Following the completion of the transaction, the chief executive officer now directly owns 6,523,095 shares in the company, valued at approximately $34,637,634.45. The trade was a 0.77 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 24.43% of the company’s stock.

Treace Medical Concepts Company Profile

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.