Sean F. Scanlan Sells 50,000 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) Stock

Treace Medical Concepts, Inc. (NASDAQ:TMCI) insider Sean F. Scanlan sold 50,000 shares of the company’s stock in a transaction 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 transaction, the insider now owns 364,081 shares of the company’s stock, valued at approximately $2,901,725.57. The trade was a 12.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Treace Medical Concepts Price Performance

Shares of NASDAQ TMCI opened at $8.22 on Friday. The stock has a market cap of $514.73 million, a price-to-earnings ratio of -8.30 and a beta of 0.77. Treace Medical Concepts, Inc. has a 52 week low of $3.92 and a 52 week high of $13.24. The company’s 50-day moving average price is $9.20 and its 200 day moving average price is $7.44. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51.

Analysts Set New Price Targets

A number of equities analysts have commented on TMCI shares. Truist Financial cut 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 report on Thursday, March 13th. Lake Street Capital began 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 target 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 note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $8.00 price target on shares of Treace Medical Concepts in a research note on Tuesday, December 17th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.14.

Institutional Investors Weigh In On Treace Medical Concepts

Large investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Treace Medical Concepts in the 3rd quarter valued at about $38,000. HighTower Advisors LLC acquired a new stake in Treace Medical Concepts in the 3rd quarter valued at about $58,000. Point72 Asia Singapore Pte. Ltd. grew its stake in Treace Medical Concepts by 243.4% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock valued at $62,000 after acquiring an additional 7,522 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Treace Medical Concepts in the 4th quarter valued at about $69,000. Finally, Wolverine Trading LLC grew its stake in Treace Medical Concepts by 17.7% in the 3rd quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock valued at $75,000 after acquiring an additional 1,946 shares during the last quarter. 84.08% of the stock is owned by institutional investors and hedge funds.

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.