Treace Medical Concepts, Inc. (NASDAQ:TMCI) Short Interest Down 46.6% in June

Key Points

• Treace Medical Concepts saw short interest fall sharply in June, dropping 46.6% to 1.75 million shares as of June 30, or about 3.5% of shares outstanding.
• The stock was trading around $4.44 and was down 3.1% on the day, while the company continued to show weak fundamentals, including a negative net margin and expectations for a full-year loss.
• Insider buying was notable: CEO John T. Treace bought 22,887 shares in June, and insiders have purchased 371,600 shares over the last 90 days. Analysts currently rate the stock a consensus “Reduce” with a $4.77 price target.

Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report) was the recipient of a significant decline in short interest in June. As of June 30th, there was short interest totaling 1,748,502 shares, a decline of 46.6% from the June 15th total of 3,271,388 shares. Approximately 3.5% of the company's shares are sold short. Based on an average daily trading volume, of 1,687,961 shares, the short-interest ratio is presently 1.0 days.

Treace Medical Concepts Stock Down 3.1%

NASDAQ TMCI opened at $4.44 on Wednesday. The stock has a market cap of $288.02 million, a PE ratio of -4.58 and a beta of 1.37. Treace Medical Concepts has a fifty-two week low of $1.17 and a fifty-two week high of $7.78. The business has a 50 day moving average price of $3.57 and a two-hundred day moving average price of $2.53. The company has a quick ratio of 2.53, a current ratio of 3.58 and a debt-to-equity ratio of 0.72.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.03. Treace Medical Concepts had a negative net margin of 29.44% and a negative return on equity of 67.04%. The company had revenue of $47.20 million during the quarter, compared to the consensus estimate of $45.96 million. As a group, sell-side analysts predict that Treace Medical Concepts will post -0.88 EPS for the current fiscal year.

Insider Transactions at Treace Medical Concepts

In other Treace Medical Concepts news, CEO John T. Treace acquired 22,887 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $4.04 per share, for a total transaction of $92,463.48. Following the completion of the purchase, the chief executive officer directly owned 7,376,150 shares in the company, valued at $29,799,646. This represents a 0.31% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased 371,600 shares of company stock worth $1,104,801 in the last ninety days. 23.42% of the stock is owned by insiders.

Institutional Investors Weigh In On Treace Medical Concepts

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Bancorp USA Inc. purchased a new stake in Treace Medical Concepts during the 3rd quarter worth approximately $122,199,000. Weber Capital Management LLC ADV purchased a new position in shares of Treace Medical Concepts during the 4th quarter valued at approximately $1,445,000. GSA Capital Partners LLP grew its position in shares of Treace Medical Concepts by 212.5% during the fourth quarter. GSA Capital Partners LLP now owns 347,755 shares of the company's stock worth $852,000 after buying an additional 236,477 shares in the last quarter. Gagnon Securities LLC grew its position in shares of Treace Medical Concepts by 37.7% during the fourth quarter. Gagnon Securities LLC now owns 3,110,575 shares of the company's stock worth $7,621,000 after buying an additional 852,337 shares in the last quarter. Finally, Gagnon Advisors LLC increased its stake in shares of Treace Medical Concepts by 58.4% in 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 during the last quarter. Hedge funds and other institutional investors own 84.08% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TMCI. Weiss Ratings upgraded shares of Treace Medical Concepts from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, June 15th. Wall Street Zen raised Treace Medical Concepts from a "sell" rating to a "hold" rating in a research report on Saturday, June 20th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Treace Medical Concepts currently has a consensus rating of "Reduce" and a consensus price target of $4.77.

Treace Medical Concepts Company Profile

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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