GSA Capital Partners LLP Buys New Stake 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 bought a new position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 66,790 shares of the company's stock, valued at approximately $560,000. GSA Capital Partners LLP owned approximately 0.11% of Treace Medical Concepts at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CWM LLC lifted its position in shares of Treace Medical Concepts by 126.0% in the first quarter. CWM LLC now owns 8,706 shares of the company's stock valued at $73,000 after buying an additional 4,853 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Treace Medical Concepts in the 4th quarter worth about $77,000. GAMMA Investing LLC lifted its position in Treace Medical Concepts by 10,236.0% in the 1st quarter. GAMMA Investing LLC now owns 10,336 shares of the company's stock worth $87,000 after buying an additional 10,236 shares during the last quarter. Bayesian Capital Management LP bought a new stake in Treace Medical Concepts in the 4th quarter worth $77,000. Finally, Boothbay Fund Management LLC purchased a new position in Treace Medical Concepts during the 4th quarter valued at $90,000. 84.08% of the stock is owned by institutional investors.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI traded up $0.23 during midday trading on Thursday, reaching $5.70. 148,424 shares of the company's stock traded hands, compared to its average volume of 390,139. The company has a debt-to-equity ratio of 0.51, a quick ratio of 3.36 and a current ratio of 4.50. Treace Medical Concepts, Inc. has a 1 year low of $4.54 and a 1 year high of $10.79. The company has a market cap of $358.16 million, a P/E ratio of -6.64 and a beta of 0.68. The company has a fifty day simple moving average of $5.80 and a two-hundred day simple moving average of $7.34.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group reduced their price target on Treace Medical Concepts from $10.00 to $8.60 and set a "neutral" rating for the company in a report on Friday, May 9th. Truist Financial reduced their price target on shares of Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating on the stock in a report on Friday, April 11th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $10.52.

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.