Trexquant Investment LP Has $2.37 Million Stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Trexquant Investment LP boosted its holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 7.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 318,889 shares of the company’s stock after acquiring an additional 21,000 shares during the quarter. Trexquant Investment LP’s holdings in Treace Medical Concepts were worth $2,373,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TMCI. Quarry LP bought a new position in shares of Treace Medical Concepts in the 3rd quarter worth $38,000. HighTower Advisors LLC bought a new position in Treace Medical Concepts during the third quarter worth about $58,000. Quantbot Technologies LP acquired a new position in shares of Treace Medical Concepts during the 4th quarter worth about $69,000. Wolverine Trading LLC increased its stake in shares of Treace Medical Concepts by 17.7% in the 3rd quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock valued at $75,000 after acquiring an additional 1,946 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Treace Medical Concepts in the 3rd quarter valued at about $75,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

Treace Medical Concepts Trading Down 1.8 %

NASDAQ TMCI opened at $7.61 on Tuesday. The company has a market cap of $476.53 million, a PE ratio of -7.69 and a beta of 0.77. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The stock has a 50 day moving average of $9.08 and a 200-day moving average of $7.71. Treace Medical Concepts, Inc. has a 12 month low of $3.92 and a 12 month high of $12.74.

Analyst Upgrades and Downgrades

TMCI has been the subject of a number of analyst reports. Lake Street Capital started coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They set a “buy” rating and a $14.50 price objective for the company. Truist Financial decreased their price target on shares of Treace Medical Concepts from $10.00 to $9.50 and set a “hold” rating for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 price objective on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Finally, BTIG Research upgraded Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.14.

Insider Activity

In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $7.97, for a total value of $398,500.00. Following the sale, the insider now owns 364,081 shares in the company, valued at $2,901,725.57. This represents a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 24.43% of the stock is owned by insiders.

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.