Cubist Systematic Strategies LLC Trims Stock Holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Cubist Systematic Strategies LLC decreased its stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 28.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 223,176 shares of the company's stock after selling 88,914 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.36% of Treace Medical Concepts worth $1,660,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC raised its position in shares of Treace Medical Concepts by 352.2% during the 3rd quarter. Barclays PLC now owns 79,696 shares of the company's stock valued at $460,000 after buying an additional 62,073 shares during the period. JPMorgan Chase & Co. increased its stake 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 acquiring an additional 861,689 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of Treace Medical Concepts by 10.2% in the 4th quarter. Ballentine Partners LLC now owns 25,009 shares of the company's stock valued at $186,000 after purchasing an additional 2,314 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Treace Medical Concepts by 20.4% during the 4th quarter. SG Americas Securities LLC now owns 28,404 shares of the company's stock worth $211,000 after purchasing an additional 4,813 shares during the last quarter. Finally, 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 valued at $492,000 after buying an additional 1,300 shares during the period. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Treace Medical Concepts Stock Down 0.4%

Shares of Treace Medical Concepts stock traded down $0.03 during trading hours on Friday, reaching $6.72. 414,948 shares of the company were exchanged, compared to its average volume of 632,317. The firm has a market cap of $422.62 million, a PE ratio of -6.79 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. Treace Medical Concepts, Inc. has a 1 year low of $4.54 and a 1 year high of $10.79. The stock's fifty day moving average is $7.43 and its 200 day moving average is $8.00.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.31) by $0.06. Treace Medical Concepts had a negative return on equity of 51.12% and a negative net margin of 30.33%. The company had revenue of $52.57 million for the quarter, compared to analyst estimates of $52.07 million. During the same quarter last year, the company earned ($0.30) EPS. Treace Medical Concepts's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities research analysts forecast that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current year.

Analyst Ratings Changes

TMCI has been the subject of a number of recent analyst reports. 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 research report on Tuesday, February 4th. UBS Group dropped their target price on shares of Treace Medical Concepts from $10.00 to $8.60 and set a "neutral" rating for the company in a report on Friday, May 9th. Finally, Truist Financial decreased their price target on Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Treace Medical Concepts presently has an average rating of "Hold" and a consensus price target of $10.16.

Insiders Place Their Bets

In other news, insider Sean F. Scanlan sold 50,000 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $7.97, for a total transaction of $398,500.00. Following the sale, the insider now owns 364,081 shares of the company's stock, valued at approximately $2,901,725.57. This trade represents a 12.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 27.72% of the stock is currently owned by company 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.