Quantbot Technologies LP Buys Shares of 9,336 Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Quantbot Technologies LP purchased a new position in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 9,336 shares of the company’s stock, valued at approximately $69,000.

Other institutional investors also recently modified their holdings of the company. William Blair Investment Management LLC grew its stake in shares of Treace Medical Concepts by 22.9% during the fourth quarter. William Blair Investment Management LLC now owns 2,938,848 shares of the company’s stock worth $21,865,000 after purchasing an additional 546,787 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in Treace Medical Concepts during the fourth quarter worth about $342,000. AlphaQuest LLC acquired a new position in shares of Treace Medical Concepts during the 4th quarter worth about $91,000. Raymond James Financial Inc. bought a new stake in shares of Treace Medical Concepts in the 4th quarter valued at about $392,000. Finally, Bank of New York Mellon Corp raised its position in shares of Treace Medical Concepts by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 125,945 shares of the company’s stock valued at $937,000 after acquiring an additional 3,215 shares during the period. Institutional investors and hedge funds own 84.08% of the company’s stock.

Treace Medical Concepts Trading Down 2.9 %

Shares of NASDAQ:TMCI opened at $8.15 on Wednesday. The firm has a market cap of $510.34 million, a price-to-earnings ratio of -8.23 and a beta of 0.77. Treace Medical Concepts, Inc. has a 12 month low of $3.92 and a 12 month high of $12.74. The company’s fifty day simple moving average is $9.21 and its 200 day simple moving average is $7.64. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TMCI shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $8.00 target price on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Lake Street Capital initiated coverage on shares of Treace Medical Concepts in a research report on Tuesday, December 31st. They issued a “buy” rating and a $14.50 price objective for the company. BTIG Research upgraded Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Tuesday, February 4th. Finally, Truist Financial decreased their target price 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. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $10.14.

Insider Buying and Selling at Treace Medical Concepts

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

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.