XTX Topco Ltd Acquires Shares of 24,104 Treace Medical Concepts, Inc. (NASDAQ:TMCI)

XTX Topco Ltd acquired a new position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 24,104 shares of the company’s stock, valued at approximately $160,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TMCI. Norges Bank purchased a new stake in Treace Medical Concepts during the 4th quarter worth about $8,725,000. Trexquant Investment LP purchased a new stake in Treace Medical Concepts during the fourth quarter worth approximately $132,000. Capstone Investment Advisors LLC acquired a new position in Treace Medical Concepts in the fourth quarter valued at approximately $163,000. CIBC Private Wealth Group LLC increased its stake in Treace Medical Concepts by 5.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,460,081 shares of the company’s stock valued at $18,616,000 after purchasing an additional 76,030 shares during the last quarter. Finally, Armistice Capital LLC acquired a new stake in Treace Medical Concepts during the fourth quarter worth approximately $36,414,000. Institutional investors and hedge funds own 84.08% of the company’s stock.

Treace Medical Concepts Price Performance

Shares of Treace Medical Concepts stock opened at $5.80 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.86 and a quick ratio of 2.93. Treace Medical Concepts, Inc. has a 1 year low of $3.92 and a 1 year high of $15.98. The company’s fifty day moving average is $6.10 and its two-hundred day moving average is $7.65.

Treace Medical Concepts (NASDAQ:TMCI) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). The company had revenue of $44.46 million for the quarter, compared to analysts’ expectations of $43.00 million. Treace Medical Concepts had a negative return on equity of 49.53% and a negative net margin of 32.08%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.20) EPS. As a group, sell-side analysts forecast that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on TMCI shares. Morgan Stanley increased their target price on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Truist Financial dropped their price objective on Treace Medical Concepts from $9.00 to $7.50 and set a “hold” rating on the stock in a report on Wednesday, August 7th. Finally, UBS Group lifted their target price on Treace Medical Concepts from $6.50 to $7.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.30.

Insider Activity

In related news, CEO John T. Treace purchased 85,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average cost of $6.00 per share, with a total value of $510,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 6,473,095 shares in the company, valued at $38,838,570. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO John T. Treace purchased 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was purchased at an average cost of $5.31 per share, with a total value of $265,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 6,523,095 shares of the company’s stock, valued at approximately $34,637,634.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John T. Treace acquired 85,000 shares of Treace Medical Concepts stock in a transaction that occurred on Wednesday, August 14th. The stock was purchased at an average price of $6.00 per share, with a total value of $510,000.00. Following the transaction, the chief executive officer now owns 6,473,095 shares of the company’s stock, valued at $38,838,570. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 219,000 shares of company stock valued at $1,276,140. Company 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.