Cwm LLC Buys 6,826 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Cwm LLC lifted its stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 208.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,097 shares of the company’s stock after purchasing an additional 6,826 shares during the quarter. Cwm LLC’s holdings in Treace Medical Concepts were worth $67,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Treace Medical Concepts by 3,441.2% during the 2nd quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock worth $31,000 after buying an additional 4,508 shares during the period. Quest Partners LLC acquired a new stake in Treace Medical Concepts in the fourth quarter valued at approximately $68,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Treace Medical Concepts by 100.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 7,123 shares of the company’s stock valued at $91,000 after acquiring an additional 3,567 shares in the last quarter. RiverPark Advisors LLC raised its position in shares of Treace Medical Concepts by 763.9% during the first quarter. RiverPark Advisors LLC now owns 8,993 shares of the company’s stock worth $117,000 after purchasing an additional 7,952 shares during the period. Finally, Trexquant Investment LP bought a new position in shares of Treace Medical Concepts in the 4th quarter worth $132,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Treace Medical Concepts Trading Up 3.2 %

NASDAQ:TMCI opened at $6.38 on Tuesday. Treace Medical Concepts, Inc. has a 52 week low of $3.92 and a 52 week high of $16.67. The firm has a 50-day moving average price of $6.76 and a two-hundred day moving average price of $9.45. The firm has a market cap of $395.61 million, a price-to-earnings ratio of -7.25 and a beta of 0.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.93 and a current ratio of 3.86.

Treace Medical Concepts (NASDAQ:TMCI) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.29) by ($0.05). Treace Medical Concepts had a negative net margin of 32.08% and a negative return on equity of 49.53%. The business had revenue of $44.46 million for the quarter, compared to analysts’ expectations of $43.00 million. During the same period in the previous year, the business posted ($0.20) earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. On average, equities analysts expect that Treace Medical Concepts, Inc. will post -0.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TMCI has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on shares of Treace Medical Concepts from $5.50 to $8.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. JPMorgan Chase & Co. lowered shares of Treace Medical Concepts from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $15.00 to $8.00 in a report on Wednesday, May 8th. Truist Financial cut their price target on Treace Medical Concepts from $9.00 to $7.50 and set a “hold” rating for the company in a research note on Wednesday, August 7th. Stifel Nicolaus lowered Treace Medical Concepts from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $15.00 to $6.00 in a report on Wednesday, May 8th. Finally, UBS Group raised their target price on Treace Medical Concepts from $6.50 to $7.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $12.71.

Insider Transactions at Treace Medical Concepts

In related news, Director James T. Treace acquired 84,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $5.96 per share, for a total transaction of $500,640.00. Following the completion of the acquisition, the director now owns 1,223,441 shares of the company’s stock, valued at approximately $7,291,708.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director James T. Treace acquired 84,000 shares of Treace Medical Concepts stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $5.96 per share, with a total value of $500,640.00. Following the completion of the acquisition, the director now owns 1,223,441 shares in the company, valued at $7,291,708.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John T. Treace bought 85,000 shares of the stock in a transaction on Wednesday, August 14th. The stock was purchased at an average price of $6.00 per share, for a total transaction of $510,000.00. Following the completion of the purchase, 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. Insiders have acquired 301,100 shares of company stock worth $1,740,369 in the last ninety days. Company insiders own 24.43% of the company’s stock.

Treace Medical Concepts Company 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.