Treace Medical Concepts, Inc. (NASDAQ:TMCI) Stock Holdings Boosted by Renaissance Technologies LLC

Renaissance Technologies LLC raised its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 217.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 112,000 shares of the company’s stock after purchasing an additional 76,700 shares during the quarter. Renaissance Technologies LLC owned 0.18% of Treace Medical Concepts worth $833,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP bought a new stake in shares of Treace Medical Concepts during the 4th quarter worth $69,000. Dynamic Technology Lab Private Ltd bought a new stake in Treace Medical Concepts during the fourth quarter worth about $77,000. AlphaQuest LLC bought a new position in shares of Treace Medical Concepts in the fourth quarter valued at about $91,000. Fox Run Management L.L.C. increased its stake in shares of Treace Medical Concepts by 54.0% in the 4th quarter. Fox Run Management L.L.C. now owns 20,073 shares of the company’s stock valued at $149,000 after buying an additional 7,040 shares during the period. Finally, Palumbo Wealth Management LLC grew its stake in shares of Treace Medical Concepts by 71.3% during the fourth quarter. Palumbo Wealth Management LLC now owns 22,259 shares of the company’s stock worth $166,000 after purchasing an additional 9,263 shares during the period. Institutional investors and hedge funds own 84.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Truist Financial reduced their target price on shares of Treace Medical Concepts from $9.50 to $8.00 and set a “hold” rating for the company in a research note on Friday, April 11th. BTIG Research upgraded Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.93.

Insider Transactions at Treace Medical Concepts

In other news, insider Sean F. Scanlan sold 50,000 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $7.97, for a total transaction of $398,500.00. Following the sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 27.72% of the stock is owned by insiders.

Treace Medical Concepts Stock Performance

TMCI opened at $7.34 on Friday. The business’s fifty day moving average is $7.80 and its 200-day moving average is $7.86. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. Treace Medical Concepts, Inc. has a 52-week low of $3.92 and a 52-week high of $11.33. The firm has a market cap of $461.61 million, a P/E ratio of -7.41 and a beta of 0.77.

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.