Insider Buying: Treace Medical Concepts (NASDAQ:TMCI) CEO Acquires 11,000 Shares

Key Points

• CEO John Treace purchased 11,000 shares of Treace Medical Concepts at an average price of $4.34, investing $47,740 and increasing his direct ownership to 7.4 million shares.
• TMCI shares traded near $4.37, while the company reported quarterly revenue of $45.38 million and an adjusted loss of $0.24 per share, beating analysts’ expectations on both measures.
• Institutional investors own 84.08% of the company, but analyst sentiment remains cautious: TMCI has an average “Reduce” rating and a $5.17 consensus price target.

Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) CEO John Treace purchased 11,000 shares of the company's stock in a transaction that occurred on Monday, August 24th. The stock was bought at an average price of $4.34 per share, for a total transaction of $47,740.00. Following the transaction, the chief executive officer directly owned 7,404,383 shares in the company, valued at $32,135,022.22. This trade represents a 0.15% increase 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.

Treace Medical Concepts Stock Performance

Treace Medical Concepts stock traded up $0.03 during mid-day trading on Monday, reaching $4.37. 330,428 shares of the company were exchanged, compared to its average volume of 741,496. Treace Medical Concepts, Inc. has a twelve month low of $1.17 and a twelve month high of $7.78. The firm's 50-day simple moving average is $4.35 and its two-hundred day simple moving average is $2.89. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.95 and a current ratio of 2.90. The firm has a market cap of $284.20 million, a PE ratio of -4.70 and a beta of 1.37.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last released its earnings results on Friday, August 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.30) by $0.06. Treace Medical Concepts had a negative return on equity of 71.37% and a negative net margin of 28.99%.The business had revenue of $45.38 million for the quarter, compared to analyst estimates of $44.02 million. Equities analysts predict that Treace Medical Concepts, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Bank of America Corp DE acquired a new stake in shares of Treace Medical Concepts during the 2nd quarter worth approximately $13,154,000. BlackRock Inc. acquired a new position in shares of Treace Medical Concepts in the second quarter valued at $5,492,000. Gagnon Securities LLC lifted its position in Treace Medical Concepts by 37.7% in the fourth quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company's stock worth $7,621,000 after purchasing an additional 852,337 shares during the period. Weber Capital Management LLC ADV bought a new position in Treace Medical Concepts in the second quarter worth $2,346,676,000. Finally, Gagnon Advisors LLC boosted its stake in Treace Medical Concepts by 58.4% during the fourth quarter. Gagnon Advisors LLC now owns 1,534,034 shares of the company's stock worth $3,758,000 after buying an additional 565,570 shares in the last quarter. Hedge funds and other institutional investors own 84.08% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Truist Financial raised their price objective on shares of Treace Medical Concepts from $4.00 to $5.00 and gave the company a "hold" rating in a research report on Monday, August 10th. Wall Street Zen raised Treace Medical Concepts from a "sell" rating to a "hold" rating in a research note on Saturday, June 20th. Finally, Weiss Ratings cut Treace Medical Concepts from a "sell (d-)" rating to a "sell (e+)" rating in a report on Friday, August 14th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Treace Medical Concepts presently has an average rating of "Reduce" and an average price target of $5.17.

About Treace Medical Concepts

Treace Medical Concepts, Inc is a medical technology company specializing in the development and commercialization of innovative surgical solutions for foot and ankle conditions. The company's flagship product, the Lapiplasty 3D Bunion Correction System, addresses the underlying joint instability that causes bunion deformity through a patented, multi-plane correction approach. The system combines proprietary instrumentation, fixation plates, and a comprehensive surgical protocol designed to improve patient outcomes and reduce recurrence rates.

The Lapiplasty System has received clearance from the U.S.

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