301,100 Shares in Treace Medical Concepts, Inc. $TMCI Acquired by Acuitas Investments LLC

Acuitas Investments LLC purchased a new position in Treace Medical Concepts, Inc. (NASDAQ:TMCI) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 301,100 shares of the company’s stock, valued at approximately $2,020,000. Treace Medical Concepts comprises 0.9% of Acuitas Investments LLC’s holdings, making the stock its 26th largest position. Acuitas Investments LLC owned approximately 0.48% of Treace Medical Concepts as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. CenterBook Partners LP purchased a new stake in shares of Treace Medical Concepts in the 2nd quarter worth $3,309,000. Gagnon Securities LLC grew its holdings in Treace Medical Concepts by 28.8% during the second quarter. Gagnon Securities LLC now owns 2,250,148 shares of the company’s stock valued at $13,231,000 after purchasing an additional 503,612 shares during the period. First Eagle Investment Management LLC grew its holdings in Treace Medical Concepts by 82.0% during the second quarter. First Eagle Investment Management LLC now owns 908,029 shares of the company’s stock valued at $5,339,000 after purchasing an additional 409,105 shares during the period. Gagnon Advisors LLC increased its position in Treace Medical Concepts by 69.5% in the second quarter. Gagnon Advisors LLC now owns 830,270 shares of the company’s stock worth $4,882,000 after buying an additional 340,379 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY bought a new position in shares of Treace Medical Concepts in the second quarter worth about $1,577,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Wall Street Zen cut shares of Treace Medical Concepts from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. UBS Group lowered their price objective on Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Truist Financial dropped their price objective on Treace Medical Concepts from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Stifel Nicolaus decreased their target price on Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating on the stock in a research note on Wednesday, January 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus target price of $6.57.

Treace Medical Concepts Price Performance

Shares of TMCI stock opened at $2.30 on Friday. The stock has a 50 day moving average price of $2.67 and a 200 day moving average price of $4.97. Treace Medical Concepts, Inc. has a 52-week low of $2.28 and a 52-week high of $10.79. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.36 and a current ratio of 3.37. The firm has a market capitalization of $146.56 million, a P/E ratio of -2.88 and a beta of 0.74.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.02. Treace Medical Concepts had a negative net margin of 22.89% and a negative return on equity of 49.49%. The company had revenue of $50.21 million during the quarter, compared to analyst estimates of $49.60 million. As a group, sell-side analysts predict that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current year.

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.