Walleye Capital LLC Takes $75,000 Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Walleye Capital LLC acquired a new stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 12,970 shares of the company’s stock, valued at approximately $75,000.

Several other hedge funds and other institutional investors have also modified their holdings of TMCI. The Manufacturers Life Insurance Company increased its holdings in Treace Medical Concepts by 11.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,252 shares of the company’s stock worth $135,000 after purchasing an additional 2,160 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Treace Medical Concepts by 59.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,685 shares of the company’s stock valued at $111,000 after acquiring an additional 6,227 shares during the last quarter. CWM LLC increased its holdings in shares of Treace Medical Concepts by 208.7% in the 2nd quarter. CWM LLC now owns 10,097 shares of the company’s stock valued at $67,000 after acquiring an additional 6,826 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Treace Medical Concepts by 34,240.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock valued at $62,000 after acquiring an additional 9,245 shares during the last quarter. Finally, Palumbo Wealth Management LLC bought a new stake in shares of Treace Medical Concepts in the 3rd quarter valued at approximately $75,000. 84.08% of the stock is owned by institutional investors and hedge funds.

Treace Medical Concepts Price Performance

Shares of TMCI opened at $7.63 on Friday. The company has a market cap of $475.33 million, a P/E ratio of -7.71 and a beta of 0.65. The stock has a fifty day moving average price of $6.70 and a 200 day moving average price of $6.40. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98. Treace Medical Concepts, Inc. has a 12 month low of $3.92 and a 12 month high of $15.98.

Treace Medical Concepts (NASDAQ:TMCI) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. Treace Medical Concepts had a negative return on equity of 51.12% and a negative net margin of 30.33%. The company had revenue of $45.09 million during the quarter, compared to analyst estimates of $43.48 million. During the same quarter in the previous year, the firm posted ($0.28) EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts forecast that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Truist Financial lowered their price target on Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating for the company in a report on Monday, October 14th. Stifel Nicolaus upped their price objective on Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a research note on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, Treace Medical Concepts has an average rating of “Hold” and a consensus price target of $7.40.

Insiders Place Their Bets

In other news, CEO John T. Treace acquired 50,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was acquired at an average price of $5.31 per share, for a total transaction of $265,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 6,523,095 shares in the company, valued at $34,637,634.45. This represents a 0.77 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 24.43% of the stock is currently owned by insiders.

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.