Point72 Asia Singapore Pte. Ltd. Boosts Stock Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Point72 Asia Singapore Pte. Ltd. lifted its stake in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 243.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,613 shares of the company’s stock after purchasing an additional 7,522 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Treace Medical Concepts were worth $62,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its holdings in Treace Medical Concepts by 3,441.2% in the 2nd quarter. GAMMA Investing LLC now owns 4,639 shares of the company’s stock valued at $31,000 after buying an additional 4,508 shares in the last quarter. CWM LLC grew its holdings in shares of Treace Medical Concepts by 208.7% in the second quarter. CWM LLC now owns 10,097 shares of the company’s stock valued at $67,000 after purchasing an additional 6,826 shares during the period. Simplicity Wealth LLC acquired a new stake in Treace Medical Concepts during the second quarter worth about $538,000. Nisa Investment Advisors LLC raised its stake in Treace Medical Concepts by 34,240.7% during the second quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock worth $62,000 after purchasing an additional 9,245 shares during the period. Finally, Accredited Investors Inc. acquired a new position in Treace Medical Concepts in the 2nd quarter valued at about $459,000. Hedge funds and other institutional investors own 84.08% of the company’s stock.

Treace Medical Concepts Trading Up 2.3 %

Shares of TMCI stock opened at $7.93 on Friday. Treace Medical Concepts, Inc. has a 1-year low of $3.92 and a 1-year high of $15.98. The firm has a market cap of $494.02 million, a PE ratio of -7.83 and a beta of 0.66. The company has a 50-day moving average of $6.47 and a two-hundred day moving average of $6.31. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.02. The firm had revenue of $45.09 million during the quarter, compared to analysts’ expectations of $43.48 million. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.28) EPS. On average, analysts predict that Treace Medical Concepts, Inc. will post -0.91 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TMCI. Truist Financial cut their price target on shares of Treace Medical Concepts from $7.50 to $6.00 and set a “hold” rating for the company in a report on Monday, October 14th. Stifel Nicolaus increased their price objective on Treace Medical Concepts from $7.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, November 6th. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.40.

Insider Activity

In other news, CEO John T. Treace bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were purchased at an average price of $5.31 per share, with a total value of $265,500.00. Following the purchase, the chief executive officer now owns 6,523,095 shares in the company, valued at approximately $34,637,634.45. The trade was a 0.77 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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.