Sean F. Scanlan Sells 50,000 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) insider Sean F. Scanlan sold 50,000 shares of the company’s stock in a transaction dated 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 approximately $2,901,725.57. This trade represents a 12.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Treace Medical Concepts Trading Down 2.6 %

NASDAQ TMCI opened at $8.21 on Thursday. The firm’s fifty day moving average price is $9.19 and its 200 day moving average price is $7.44. Treace Medical Concepts, Inc. has a 12 month low of $3.92 and a 12 month high of $13.24. 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 company has a market capitalization of $514.10 million, a price-to-earnings ratio of -8.29 and a beta of 0.77.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TMCI. JPMorgan Chase & Co. restated a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. 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 objective on shares of Treace Medical Concepts from $10.00 to $9.50 and set a “hold” rating on the stock in a report on Thursday, March 13th. Finally, Lake Street Capital began coverage on shares of Treace Medical Concepts in a research note on Tuesday, December 31st. They set a “buy” rating and a $14.50 target price for the company. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.14.

Hedge Funds Weigh In On Treace Medical Concepts

Several hedge funds have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Treace Medical Concepts in the 3rd quarter valued at about $38,000. HighTower Advisors LLC acquired a new stake in shares of Treace Medical Concepts in the third quarter valued at approximately $58,000. Point72 Asia Singapore Pte. Ltd. grew its position in shares of Treace Medical Concepts by 243.4% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock worth $62,000 after acquiring an additional 7,522 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Treace Medical Concepts in the 4th quarter valued at $69,000. Finally, Wolverine Trading LLC raised its position in 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 purchasing an additional 1,946 shares during the last quarter. Hedge funds and other institutional investors own 84.08% of the company’s stock.

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.