Short Interest in Treace Medical Concepts, Inc. (NASDAQ:TMCI) Rises By 20.8%

Treace Medical Concepts, Inc. (NASDAQ:TMCI) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 2,730,000 shares, an increase 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 presently 7.3 days. Currently, 6.1% of the shares of the company are sold short.

Treace Medical Concepts Price Performance

TMCI stock opened at $8.43 on Wednesday. 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 has a one year low of $3.92 and a one year high of $13.24. The stock has a market cap of $527.88 million, a PE ratio of -8.52 and a beta of 0.77. The firm has a 50 day simple moving average of $9.17 and a two-hundred day simple moving average of $7.43.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Treace Medical Concepts

A number of hedge funds and other institutional investors have recently bought and sold shares of TMCI. JPMorgan Chase & Co. grew its stake in Treace Medical Concepts by 215.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,262,235 shares of the company’s stock worth $7,321,000 after buying an additional 861,689 shares in the last quarter. William Blair Investment Management LLC grew its stake in Treace Medical Concepts by 22.9% in the 4th quarter. William Blair Investment Management LLC now owns 2,938,848 shares of the company’s stock worth $21,865,000 after buying an additional 546,787 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Treace Medical Concepts in the 4th quarter worth approximately $1,414,000. Susquehanna Fundamental Investments LLC purchased a new position in Treace Medical Concepts in the 4th quarter worth approximately $1,025,000. Finally, Birchview Capital LP grew its stake in Treace Medical Concepts by 136.1% in the 4th quarter. Birchview Capital LP now owns 161,350 shares of the company’s stock worth $1,200,000 after buying an additional 93,000 shares in the last quarter. Hedge funds and other institutional investors own 84.08% 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.