Jane Street Group LLC Sells 158,845 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Jane Street Group LLC decreased its stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 54.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 130,395 shares of the company's stock after selling 158,845 shares during the quarter. Jane Street Group LLC owned about 0.21% of Treace Medical Concepts worth $970,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Quantbot Technologies LP purchased a new stake in Treace Medical Concepts during the fourth quarter valued at $69,000. Dynamic Technology Lab Private Ltd purchased a new position in Treace Medical Concepts during the 4th quarter valued at about $77,000. Boothbay Fund Management LLC purchased a new position in Treace Medical Concepts during the 4th quarter valued at about $90,000. AlphaQuest LLC bought a new stake in shares of Treace Medical Concepts in the 4th quarter valued at about $91,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Treace Medical Concepts by 22.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,056 shares of the company's stock valued at $142,000 after buying an additional 3,452 shares in the last quarter. Institutional investors own 84.08% of the company's stock.

Treace Medical Concepts Price Performance

Shares of NASDAQ TMCI opened at $6.10 on Friday. Treace Medical Concepts, Inc. has a 52 week low of $4.54 and a 52 week high of $10.79. The stock has a market capitalization of $383.63 million, a price-to-earnings ratio of -6.16 and a beta of 0.79. The firm has a 50-day simple moving average of $7.28 and a 200-day simple moving average of $8.05. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.06. The firm had revenue of $52.57 million during the quarter, compared to analysts' expectations of $52.07 million. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. Treace Medical Concepts's revenue was up 2.9% compared to the same quarter last year. During the same period last year, the business earned ($0.30) earnings per share. On average, equities analysts predict that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Sean F. Scanlan sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $7.97, for a total value of $398,500.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 27.72% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

TMCI has been the topic 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 on the stock in a research note on Tuesday, February 4th. Truist Financial lowered 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. Finally, UBS Group reduced their price objective on shares of Treace Medical Concepts from $10.00 to $8.60 and set a "neutral" rating for the company in a research report on Friday, May 9th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Treace Medical Concepts presently has an average rating of "Hold" and a consensus target price of $10.16.

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.

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