Treace Medical Concepts, Inc. (NASDAQ:TMCI) Insider Sells $398,500.00 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) insider Sean F. Scanlan sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $7.97, for a total transaction of $398,500.00. Following the completion of the sale, the insider now directly owns 364,081 shares of the company’s stock, valued at $2,901,725.57. The trade was a 12.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Treace Medical Concepts Stock Performance

Shares of TMCI opened at $8.25 on Friday. Treace Medical Concepts, Inc. has a 12 month low of $3.92 and a 12 month high of $13.24. The firm has a fifty day simple moving average of $9.22 and a 200 day simple moving average of $7.46. The stock has a market capitalization of $516.61 million, a price-to-earnings ratio of -8.33 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.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TMCI shares. Lake Street Capital started coverage on shares of Treace Medical Concepts in a research note on Tuesday, December 31st. They issued a “buy” rating and a $14.50 target price for the company. BTIG Research upgraded shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, February 4th. Truist Financial reduced 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. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $8.00 price target on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.14.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TMCI. JPMorgan Chase & Co. boosted its holdings in Treace Medical Concepts by 215.1% during the third quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company’s stock worth $7,321,000 after purchasing an additional 861,689 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in Treace Medical Concepts by 22.9% during the fourth quarter. William Blair Investment Management LLC now owns 2,938,848 shares of the company’s stock worth $21,865,000 after purchasing an additional 546,787 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Treace Medical Concepts during the fourth quarter worth $1,414,000. Susquehanna Fundamental Investments LLC acquired a new stake in Treace Medical Concepts in the fourth quarter valued at $1,025,000. Finally, Birchview Capital LP lifted its stake in Treace Medical Concepts by 136.1% in the fourth quarter. Birchview Capital LP now owns 161,350 shares of the company’s stock valued at $1,200,000 after acquiring an additional 93,000 shares during the last quarter. Institutional investors and hedge funds own 84.08% 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.