PDT Partners LLC Lowers Stock Holdings in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

PDT Partners LLC decreased its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 54.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,163 shares of the company's stock after selling 34,786 shares during the period. PDT Partners LLC's holdings in Treace Medical Concepts were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Rhumbline Advisers increased its position in Treace Medical Concepts by 2.0% in the fourth quarter. Rhumbline Advisers now owns 66,073 shares of the company's stock worth $492,000 after purchasing an additional 1,300 shares during the period. Fuller & Thaler Asset Management Inc. lifted its holdings in Treace Medical Concepts by 2.6% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 83,285 shares of the company's stock worth $620,000 after purchasing an additional 2,150 shares during the last quarter. Ballentine Partners LLC grew its position in Treace Medical Concepts by 10.2% during the fourth quarter. Ballentine Partners LLC now owns 25,009 shares of the company's stock worth $186,000 after buying an additional 2,314 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Treace Medical Concepts by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 125,945 shares of the company's stock valued at $937,000 after buying an additional 3,215 shares in the last quarter. 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 purchasing an additional 3,452 shares in the last quarter. Institutional investors own 84.08% of the company's stock.

Insider Buying and Selling at Treace Medical Concepts

In other news, insider Sean F. Scanlan sold 50,000 shares of Treace Medical Concepts stock in a transaction that occurred on Monday, March 17th. The stock was 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 in the company, valued at approximately $2,901,725.57. The trade was a 12.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.72% of the stock is currently owned by corporate insiders.

Treace Medical Concepts Stock Down 2.4 %

Shares of TMCI stock traded down $0.18 during mid-day trading on Wednesday, hitting $7.20. The company's stock had a trading volume of 336,880 shares, compared to its average volume of 751,034. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. The business has a 50-day moving average price of $7.67 and a 200 day moving average price of $7.92. Treace Medical Concepts, Inc. has a 52-week low of $3.92 and a 52-week high of $11.30. The stock has a market cap of $452.81 million, a price-to-earnings ratio of -7.27 and a beta of 0.79.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TMCI. BTIG Research raised Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 price objective on the stock in a report on Tuesday, February 4th. Truist Financial lowered their target price 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. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $9.93.

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.