Treace Medical Concepts, Inc. (NASDAQ:TMCI) Short Interest Update

Treace Medical Concepts, Inc. (NASDAQ:TMCI) was the recipient of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 2,730,000 shares, a growth of 20.8% from the February 13th total of 2,260,000 shares. Based on an average daily volume of 373,500 shares, the short-interest ratio is currently 7.3 days. Approximately 6.1% of the company’s shares are short sold.

Treace Medical Concepts Trading Up 4.7 %

NASDAQ:TMCI traded up $0.38 during mid-day trading on Tuesday, hitting $8.35. The company had a trading volume of 157,245 shares, compared to its average volume of 728,451. 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 has a fifty-two week low of $3.92 and a fifty-two week high of $13.24. The firm has a market cap of $522.56 million, a P/E ratio of -8.34 and a beta of 0.77. The business’s fifty day moving average is $9.16 and its two-hundred day moving average is $7.42.

Institutional Trading of Treace Medical Concepts

Hedge funds have recently modified their holdings of the company. Intech Investment Management LLC acquired a new position in Treace Medical Concepts during the third quarter valued at approximately $118,000. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 valued at $2,268,000 after buying an additional 17,783 shares during the period. FMR LLC grew its holdings in shares of Treace Medical Concepts by 228.5% in the 3rd quarter. FMR LLC now owns 78,135 shares of the company’s stock valued at $453,000 after buying an additional 54,353 shares during the period. Walleye Capital LLC bought a new stake in shares of Treace Medical Concepts in the 3rd quarter valued at $75,000. Finally, Verition Fund Management LLC raised its stake in Treace Medical Concepts by 10.6% during the 3rd quarter. Verition Fund Management LLC now owns 88,370 shares of the company’s stock worth $513,000 after buying an additional 8,468 shares during the period. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.