Insider Selling: Treace Medical Concepts, Inc. (NASDAQ:TMCI) Insider Sells 50,000 Shares of Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) insider Sean F. Scanlan sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $7.97, for a total transaction of $398,500.00. Following the completion of 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 document filed with the SEC, which is available through this hyperlink.

Treace Medical Concepts Stock Down 2.6 %

Shares of NASDAQ TMCI traded down $0.22 during trading on Wednesday, reaching $8.21. 320,856 shares of the stock were exchanged, compared to its average volume of 731,328. The business’s 50-day moving average price is $9.19 and its 200 day moving average price is $7.44. Treace Medical Concepts, Inc. has a twelve month low of $3.92 and a twelve month high of $13.24. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $514.10 million, a price-to-earnings ratio of -8.29 and a beta of 0.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TMCI shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $8.00 target price on shares of Treace Medical Concepts in a report on Tuesday, December 17th. Lake Street Capital started coverage on shares of Treace Medical Concepts in a research report on Tuesday, December 31st. They set a “buy” rating and a $14.50 price target on the stock. BTIG Research raised shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research report on Tuesday, February 4th. Finally, Truist Financial reduced their price target on shares of Treace Medical Concepts from $10.00 to $9.50 and set a “hold” rating on the stock in a research report on Thursday, March 13th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.14.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. William Blair Investment Management LLC lifted its position in shares of Treace Medical Concepts by 22.9% during the fourth 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 in the last quarter. JPMorgan Chase & Co. increased its stake in Treace Medical Concepts by 56.6% during the fourth quarter. JPMorgan Chase & Co. now owns 1,977,219 shares of the company’s stock valued at $14,711,000 after purchasing an additional 714,984 shares during the last quarter. Geode Capital Management LLC increased its stake in Treace Medical Concepts by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 1,062,765 shares of the company’s stock valued at $7,909,000 after purchasing an additional 22,159 shares during the last quarter. State Street Corp grew its position in shares of Treace Medical Concepts by 4.2% during the third quarter. State Street Corp now owns 997,453 shares of the company’s stock worth $5,785,000 after acquiring an additional 39,907 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Treace Medical Concepts by 11.4% during the fourth quarter. Nuveen Asset Management LLC now owns 472,840 shares of the company’s stock worth $3,518,000 after acquiring an additional 48,525 shares during the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

About Treace Medical Concepts

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.