Birchview Capital LP Boosts Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Birchview Capital LP increased its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 136.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 161,350 shares of the company's stock after purchasing an additional 93,000 shares during the quarter. Treace Medical Concepts accounts for approximately 1.0% of Birchview Capital LP's investment portfolio, making the stock its 24th largest position. Birchview Capital LP owned 0.26% of Treace Medical Concepts worth $1,200,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of TMCI. HighTower Advisors LLC bought a new stake in shares of Treace Medical Concepts in the 3rd quarter valued at about $58,000. Quantbot Technologies LP bought a new stake in Treace Medical Concepts in the 4th quarter valued at about $69,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Treace Medical Concepts in the 4th quarter worth $77,000. Boothbay Fund Management LLC bought a new position in shares of Treace Medical Concepts in the fourth quarter valued at $90,000. Finally, AlphaQuest LLC purchased a new position in shares of Treace Medical Concepts during the fourth quarter valued at approximately $91,000. 84.08% of the stock is currently owned by institutional investors.

Treace Medical Concepts Price Performance

TMCI traded up $0.03 on Wednesday, hitting $7.08. 557,308 shares of the company's stock were exchanged, compared to its average volume of 749,855. Treace Medical Concepts, Inc. has a fifty-two week low of $3.92 and a fifty-two week high of $11.33. The stock has a market cap of $445.26 million, a price-to-earnings ratio of -7.15 and a beta of 0.77. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average price of $7.89 and a 200-day moving average price of $7.85.

Insider Transactions at Treace Medical Concepts

In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of the business's 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 sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 27.72% of the company's stock.

Analysts Set New Price Targets

TMCI has been the topic of a number of research analyst reports. Truist Financial cut their target price on Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. BTIG Research raised shares of 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. Finally, Lake Street Capital assumed coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They set a "buy" rating and a $14.50 target price on the stock. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Treace Medical Concepts presently has a consensus rating of "Hold" and an average price target of $9.93.

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.