Squarepoint Ops LLC Sells 52,890 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Squarepoint Ops LLC lessened its stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 74.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,470 shares of the company's stock after selling 52,890 shares during the quarter. Squarepoint Ops LLC's holdings in Treace Medical Concepts were worth $137,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in Treace Medical Concepts by 56.6% in the 4th quarter. JPMorgan Chase & Co. now owns 1,977,219 shares of the company's stock valued at $14,711,000 after acquiring an additional 714,984 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of Treace Medical Concepts by 22.9% in 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. bought a new stake in shares of Treace Medical Concepts in the fourth quarter worth $1,414,000. Susquehanna Fundamental Investments LLC acquired a new position in Treace Medical Concepts during the fourth quarter worth $1,025,000. Finally, Birchview Capital LP grew its position in Treace Medical Concepts by 136.1% in the fourth 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 in the last quarter. Institutional investors own 84.08% of the company's stock.

Treace Medical Concepts Stock Performance

TMCI stock traded down $0.20 during midday trading on Thursday, reaching $5.97. 151,788 shares of the company were exchanged, compared to its average volume of 422,139. Treace Medical Concepts, Inc. has a one year low of $4.54 and a one year high of $10.79. The firm has a market capitalization of $375.45 million, a price-to-earnings ratio of -6.03 and a beta of 0.68. The business has a 50-day moving average price of $6.60 and a two-hundred day moving average price of $7.88. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.06. The business had revenue of $52.57 million during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted ($0.30) EPS. Equities research analysts forecast that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TMCI. Truist Financial reduced their price objective on shares of Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating for the company in a research note on Friday, April 11th. UBS Group dropped their target price 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. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $10.16.

Insider Activity

In related news, insider Sean F. Scanlan sold 50,000 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $7.97, for a total value of $398,500.00. Following the transaction, the insider now directly owns 364,081 shares in the company, valued at approximately $2,901,725.57. This represents a 12.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 27.72% of the stock is owned by company insiders.

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.