GSA Capital Partners LLP Purchases 236,477 Shares of Treace Medical Concepts, Inc. $TMCI

GSA Capital Partners LLP raised its stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 212.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 347,755 shares of the company’s stock after purchasing an additional 236,477 shares during the quarter. GSA Capital Partners LLP owned 0.55% of Treace Medical Concepts worth $852,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Osaic Holdings Inc. increased its holdings in shares of Treace Medical Concepts by 328.3% during the 2nd quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after purchasing an additional 3,674 shares during the period. HighTower Advisors LLC bought a new position in shares of Treace Medical Concepts during the 4th quarter worth about $33,000. Balance Wealth LLC bought a new position in shares of Treace Medical Concepts during the 4th quarter worth about $37,000. SG Americas Securities LLC bought a new position in shares of Treace Medical Concepts during the 4th quarter worth about $46,000. Finally, Captrust Financial Advisors bought a new position in shares of Treace Medical Concepts during the 2nd quarter worth about $62,000. Institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Price Performance

Shares of Treace Medical Concepts stock opened at $2.78 on Friday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.53 and a current ratio of 3.58. The firm’s 50-day simple moving average is $1.82 and its 200-day simple moving average is $2.36. Treace Medical Concepts, Inc. has a twelve month low of $1.17 and a twelve month high of $7.78. The firm has a market cap of $180.34 million, a P/E ratio of -2.87 and a beta of 1.10.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Friday, May 8th. The company reported ($0.28) earnings per share 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 business had revenue of $47.20 million for the quarter, compared to analyst estimates of $45.96 million. As a group, research analysts expect that Treace Medical Concepts, Inc. will post -0.88 EPS for the current fiscal year.

Insider Buying and Selling at Treace Medical Concepts

In other Treace Medical Concepts news, CEO John T. Treace bought 61,750 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $2.62 per share, for a total transaction of $161,785.00. Following the transaction, the chief executive officer owned 7,158,313 shares in the company, valued at approximately $18,754,780.06. The trade was a 0.87% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last quarter, insiders have bought 153,763 shares of company stock worth $375,667. 23.42% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on TMCI. Lake Street Capital dropped 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 report on Monday, March 2nd. Wall Street Zen upgraded shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $4.77.

Treace Medical Concepts 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.