Short Interest in Treace Medical Concepts, Inc. (NASDAQ:TMCI) Rises By 20.8%

Treace Medical Concepts, Inc. (NASDAQ:TMCI) saw a large growth in short interest in February. As of February 28th, there was short interest totalling 2,730,000 shares, a growth of 20.8% from the February 13th total of 2,260,000 shares. Based on an average daily volume of 373,500 shares, the short-interest ratio is currently 7.3 days. Approximately 6.1% of the company’s shares are short sold.

Treace Medical Concepts Trading Up 5.8 %

NASDAQ:TMCI opened at $8.43 on Wednesday. The company has a fifty day moving average of $9.17 and a 200 day moving average of $7.43. Treace Medical Concepts has a 52 week low of $3.92 and a 52 week high of $13.24. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $527.88 million, a P/E ratio of -8.52 and a beta of 0.77.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Truist Financial cut their price objective on shares of Treace Medical Concepts from $10.00 to $9.50 and set a “hold” rating for the company in a research note on Thursday, March 13th. BTIG Research raised shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, February 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $8.00 price objective on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Finally, Lake Street Capital began coverage on shares of Treace Medical Concepts in a research note on Tuesday, December 31st. They issued a “buy” rating and a $14.50 price objective for the company. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Treace Medical Concepts presently has a consensus rating of “Hold” and a consensus price target of $10.14.

Institutional Investors Weigh In On Treace Medical Concepts

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Treace Medical Concepts by 4.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 28,001 shares of the company’s stock worth $208,000 after purchasing an additional 1,216 shares in the last quarter. Rhumbline Advisers raised its holdings in Treace Medical Concepts by 2.0% in the 4th quarter. Rhumbline Advisers now owns 66,073 shares of the company’s stock worth $492,000 after purchasing an additional 1,300 shares in the last quarter. Wolverine Trading LLC raised its holdings in Treace Medical Concepts by 17.7% in the 3rd quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock worth $75,000 after purchasing an additional 1,946 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in Treace Medical Concepts by 2.6% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 83,285 shares of the company’s stock worth $620,000 after purchasing an additional 2,150 shares in the last quarter. Finally, Ballentine Partners LLC raised its holdings in Treace Medical Concepts by 10.2% in the 4th quarter. Ballentine Partners LLC now owns 25,009 shares of the company’s stock worth $186,000 after purchasing an additional 2,314 shares in the last quarter. 84.08% of the stock is currently owned by institutional investors.

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.