Insider Buying: Treace Medical Concepts (NASDAQ:TMCI) CEO Buys $178,000.00 in Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) CEO John Treace purchased 50,000 shares of the stock in a transaction on Monday, June 1st. The stock was acquired at an average cost of $3.56 per share, with a total value of $178,000.00. Following the completion of the purchase, the chief executive officer directly owned 7,323,833 shares of the company’s stock, valued at $26,072,845.48. The trade was a 0.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Treace Medical Concepts Price Performance

TMCI stock opened at $3.40 on Thursday. The firm’s 50-day moving average price is $2.12 and its two-hundred day moving average price is $2.25. Treace Medical Concepts, Inc. has a 12-month low of $1.17 and a 12-month high of $7.78. The stock has a market capitalization of $220.56 million, a price-to-earnings ratio of -3.51 and a beta of 1.40. The company has a current ratio of 3.58, a quick ratio of 2.53 and a debt-to-equity ratio of 0.72.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Friday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $47.20 million for the quarter, compared to analysts’ expectations of $45.96 million. As a group, equities analysts predict that Treace Medical Concepts, Inc. will post -0.88 earnings per share for the current year.

Hedge Funds Weigh In On Treace Medical Concepts

Several hedge funds and other institutional investors have recently modified their holdings of TMCI. Graham Capital Management L.P. purchased a new position in shares of Treace Medical Concepts during the fourth quarter valued at about $27,000. Osaic Holdings Inc. increased its position in shares of Treace Medical Concepts by 328.3% during the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock valued at $28,000 after buying an additional 3,674 shares during the period. HighTower Advisors LLC purchased a new position in shares of Treace Medical Concepts during the fourth quarter valued at about $33,000. Chicago Partners Investment Group LLC increased its position in shares of Treace Medical Concepts by 34.0% during the first quarter. Chicago Partners Investment Group LLC now owns 26,014 shares of the company’s stock valued at $35,000 after buying an additional 6,606 shares during the period. Finally, Balance Wealth LLC purchased a new position in shares of Treace Medical Concepts during the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wall Street Zen upgraded shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a research report on Monday, April 27th. Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research report on Monday, April 20th. Finally, Lake Street Capital decreased their price objective on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $4.77.

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.