GSA Capital Partners LLP Takes Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Key Points

• GSA Capital Partners LLP acquired approximately 66,790 shares of Treace Medical Concepts, Inc., valuing their new position at around $560,000, representing 0.11% ownership of the company.
• Analysts have shown a cautious outlook on TMCI, with revised price targets lowered by **Truist Financial** and **UBS Group**, leading to an average target price of $10.52 and a consensus rating of "Hold".
• Treace Medical Concepts reported a **quarterly revenue of $52.57 million**, an increase of 2.9% year-over-year, and beat earnings estimates, posting EPS of ($0.25) against a consensus of ($0.31).

GSA Capital Partners LLP acquired a new position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 66,790 shares of the company's stock, valued at approximately $560,000. GSA Capital Partners LLP owned about 0.11% of Treace Medical Concepts at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TMCI. Raymond James Financial Inc. acquired a new position in Treace Medical Concepts during the 4th quarter worth $392,000. JPMorgan Chase & Co. lifted its holdings in Treace Medical Concepts by 56.6% in the fourth quarter. JPMorgan Chase & Co. now owns 1,977,219 shares of the company's stock worth $14,711,000 after purchasing an additional 714,984 shares during the period. Norges Bank bought a new position in Treace Medical Concepts in the 4th quarter valued at about $490,000. Geode Capital Management LLC grew its position in Treace Medical Concepts by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 1,062,765 shares of the company's stock valued at $7,909,000 after buying an additional 22,159 shares in the last quarter. Finally, Trexquant Investment LP increased its stake in Treace Medical Concepts by 7.0% during the 4th quarter. Trexquant Investment LP now owns 318,889 shares of the company's stock valued at $2,373,000 after buying an additional 21,000 shares during the period. 84.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TMCI shares. Truist Financial dropped their price objective 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. UBS Group lowered their price target on Treace Medical Concepts from $10.00 to $8.60 and set a "neutral" rating on the stock in a report on Friday, May 9th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $10.52.

Treace Medical Concepts Stock Performance

TMCI stock traded up $0.27 during mid-day trading on Monday, hitting $5.61. 318,017 shares of the company were exchanged, compared to its average volume of 258,505. Treace Medical Concepts, Inc. has a 1-year low of $4.54 and a 1-year high of $10.79. The business has a 50 day simple moving average of $5.82 and a 200-day simple moving average of $7.36. The company has a current ratio of 4.50, a quick ratio of 3.36 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $352.81 million, a PE ratio of -6.60 and a beta of 0.68.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, beating analysts' consensus estimates of ($0.31) by $0.06. Treace Medical Concepts had a negative return on equity of 48.69% and a negative net margin of 25.14%. The firm had revenue of $52.57 million for the quarter, compared to analyst estimates of $52.07 million. During the same period in the prior year, the firm posted ($0.30) EPS. The company's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts forecast that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current year.

Treace Medical Concepts 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.