Balyasny Asset Management L.P. Has $87,000 Stock Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Balyasny Asset Management L.P. lowered its position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 94.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,723 shares of the company’s stock after selling 189,380 shares during the quarter. Balyasny Asset Management L.P.’s holdings in Treace Medical Concepts were worth $87,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. William Blair Investment Management LLC raised its holdings in Treace Medical Concepts by 22.9% during the 4th quarter. William Blair Investment Management LLC now owns 2,938,848 shares of the company’s stock worth $21,865,000 after purchasing an additional 546,787 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Treace Medical Concepts by 56.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,977,219 shares of the company’s stock worth $14,711,000 after buying an additional 714,984 shares during the period. Geode Capital Management LLC grew its position in shares of Treace Medical Concepts by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 1,062,765 shares of the company’s stock worth $7,909,000 after buying an additional 22,159 shares during the period. Northern Trust Corp raised its stake in shares of Treace Medical Concepts by 2.3% during the fourth quarter. Northern Trust Corp now owns 468,894 shares of the company’s stock worth $3,489,000 after buying an additional 10,711 shares during the last quarter. Finally, Trexquant Investment LP lifted its holdings in Treace Medical Concepts by 7.0% in the fourth quarter. Trexquant Investment LP now owns 318,889 shares of the company’s stock valued at $2,373,000 after buying an additional 21,000 shares during the period. Institutional investors and hedge funds own 84.08% of the company’s stock.

Treace Medical Concepts Trading Down 0.4%

NASDAQ:TMCI opened at $6.72 on Monday. The company has a market cap of $422.62 million, a P/E ratio of -6.79 and a beta of 0.79. Treace Medical Concepts, Inc. has a twelve month low of $4.54 and a twelve month high of $10.79. The business has a 50 day moving average price of $7.40 and a two-hundred day moving average price of $8.06. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.06. The business had revenue of $52.57 million for the quarter, compared to analyst estimates of $52.07 million. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.30) earnings per share. As a group, analysts expect that Treace Medical Concepts, Inc. will post -0.92 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TMCI. Truist Financial reduced their price objective on shares of 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 upgraded shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Tuesday, February 4th. Finally, UBS Group lowered their target price on Treace Medical Concepts from $10.00 to $8.60 and set a “neutral” rating for the company in a research note on Friday, May 9th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Treace Medical Concepts presently has a consensus rating of “Hold” and an average target price of $10.16.

Insider Transactions at Treace Medical Concepts

In related news, insider Sean F. Scanlan sold 50,000 shares of Treace Medical Concepts stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $7.97, for a total value of $398,500.00. Following the sale, the insider now owns 364,081 shares of the company’s stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 27.72% of the company’s stock.

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.