Bank of New York Mellon Corp Has $937,000 Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Bank of New York Mellon Corp boosted its holdings in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 2.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 125,945 shares of the company’s stock after acquiring an additional 3,215 shares during the period. Bank of New York Mellon Corp’s holdings in Treace Medical Concepts were worth $937,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TMCI. Quarry LP bought a new stake in shares of Treace Medical Concepts during the third quarter worth about $38,000. HighTower Advisors LLC acquired a new position in Treace Medical Concepts during the 3rd quarter valued at about $58,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in Treace Medical Concepts by 243.4% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock worth $62,000 after purchasing an additional 7,522 shares in the last quarter. Wolverine Trading LLC raised its stake in shares of Treace Medical Concepts by 17.7% in the third quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock worth $75,000 after purchasing an additional 1,946 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Treace Medical Concepts in the third quarter valued at approximately $75,000. 84.08% of the stock is owned by institutional investors.

Treace Medical Concepts Price Performance

Shares of NASDAQ:TMCI opened at $8.50 on Wednesday. The company has a market capitalization of $532.26 million, a P/E ratio of -8.59 and a beta of 0.77. The company’s 50-day moving average is $9.24 and its 200 day moving average is $7.53. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. Treace Medical Concepts, Inc. has a fifty-two week low of $3.92 and a fifty-two week high of $13.24.

Analysts Set New Price Targets

Several brokerages recently issued reports on TMCI. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $8.00 price target on shares of Treace Medical Concepts in a report on Tuesday, December 17th. 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 report on Tuesday, February 4th. Truist Financial lowered their target price on shares of Treace Medical Concepts from $10.00 to $9.50 and set a “hold” rating for the company in a report on Thursday, March 13th. Finally, Lake Street Capital started coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They set a “buy” rating and a $14.50 price target on the stock. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $10.14.

Insiders Place Their Bets

In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $7.97, for a total value of $398,500.00. Following the completion of the sale, the insider now directly owns 364,081 shares of the company’s stock, valued at $2,901,725.57. This trade represents a 12.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 24.43% 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.