Connor Clark & Lunn Investment Management Ltd. Takes $342,000 Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 45,923 shares of the company’s stock, valued at approximately $342,000.

A number of other large investors have also bought and sold shares of TMCI. Intech Investment Management LLC purchased a new stake in shares of Treace Medical Concepts during the third quarter valued at approximately $118,000. Charles Schwab Investment Management Inc. grew its holdings in Treace Medical Concepts by 4.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 391,033 shares of the company’s stock worth $2,268,000 after acquiring an additional 17,783 shares during the last quarter. FMR LLC increased its position in shares of Treace Medical Concepts by 228.5% in the third quarter. FMR LLC now owns 78,135 shares of the company’s stock valued at $453,000 after acquiring an additional 54,353 shares during the period. Walleye Capital LLC bought a new position in shares of Treace Medical Concepts during the third quarter valued at about $75,000. Finally, Verition Fund Management LLC boosted its holdings in shares of Treace Medical Concepts by 10.6% during the third quarter. Verition Fund Management LLC now owns 88,370 shares of the company’s stock worth $513,000 after purchasing an additional 8,468 shares during the period. 84.08% of the stock is owned by hedge funds and other institutional investors.

Treace Medical Concepts Trading Up 0.4 %

TMCI opened at $8.25 on Monday. 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, Inc. has a 52 week low of $3.92 and a 52 week high of $13.24. The stock has a market cap of $516.61 million, a PE ratio of -8.33 and a beta of 0.77. The business has a 50 day moving average of $9.22 and a 200-day moving average of $7.48.

Insiders Place Their Bets

In related news, insider Sean F. Scanlan sold 50,000 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $7.97, for a total transaction of $398,500.00. Following the sale, the insider now owns 364,081 shares of the company’s stock, valued at $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 SEC, which is available at this link. 24.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

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.