Lisanti Capital Growth LLC Buys Shares of 252,215 Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Lisanti Capital Growth LLC acquired a new position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 252,215 shares of the company's stock, valued at approximately $2,116,000. Lisanti Capital Growth LLC owned about 0.40% of Treace Medical Concepts at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. JPMorgan Chase & Co. raised its stake in Treace Medical Concepts by 56.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,977,219 shares of the company's stock worth $14,711,000 after acquiring an additional 714,984 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Treace Medical Concepts by 22.9% during the fourth quarter. William Blair Investment Management LLC now owns 2,938,848 shares of the company's stock worth $21,865,000 after purchasing an additional 546,787 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Treace Medical Concepts in the 4th quarter valued at about $1,414,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Treace Medical Concepts in the 4th quarter valued at about $1,025,000. Finally, Birchview Capital LP boosted its position in shares of Treace Medical Concepts by 136.1% in the 4th quarter. Birchview Capital LP now owns 161,350 shares of the company's stock valued at $1,200,000 after purchasing an additional 93,000 shares during the period. Institutional investors and hedge funds own 84.08% of the company's stock.

Treace Medical Concepts Stock Performance

NASDAQ:TMCI traded up $0.07 during midday trading on Wednesday, reaching $6.09. The stock had a trading volume of 313,981 shares, compared to its average volume of 523,230. The company has a quick ratio of 3.36, a current ratio of 4.50 and a debt-to-equity ratio of 0.51. The stock has a market cap of $383.00 million, a P/E ratio of -7.16 and a beta of 0.69. The firm has a fifty day simple moving average of $6.29 and a two-hundred day simple moving average of $7.64. Treace Medical Concepts, Inc. has a 12-month low of $4.54 and a 12-month high of $10.79.

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, topping the consensus estimate of ($0.31) by $0.06. Treace Medical Concepts had a negative net margin of 25.14% and a negative return on equity of 48.69%. The firm had revenue of $52.57 million during the quarter, compared to analysts' expectations of $52.07 million. During the same period in the prior year, the company posted ($0.30) earnings per share. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities analysts expect that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

Analysts Set New Price Targets

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

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.