Treace Medical Concepts (NASDAQ:TMCI) Stock Price Down 0.8% – Time to Sell?

Treace Medical Concepts, Inc. (NASDAQ:TMCI)’s share price dropped 0.8% on Friday . The stock traded as low as $2.41 and last traded at $2.42. Approximately 692,875 shares traded hands during trading, a decline of 15% from the average daily volume of 810,528 shares. The stock had previously closed at $2.44.

Analyst Ratings Changes

A number of analysts recently commented on TMCI shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Wednesday, October 8th. UBS Group cut their target price on shares of Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating for the company in a research note on Friday, November 7th. Truist Financial decreased their price target on shares of Treace Medical Concepts from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Wall Street Zen lowered shares of Treace Medical Concepts from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, BTIG Research reissued a “neutral” rating on shares of Treace Medical Concepts in a research note on Friday, November 7th. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and an average price target of $8.39.

Treace Medical Concepts Stock Down 0.8%

The firm has a fifty day simple moving average of $3.91 and a 200 day simple moving average of $5.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.36 and a current ratio of 3.37. The company has a market cap of $154.20 million, a PE ratio of -3.03 and a beta of 0.73.

Treace Medical Concepts (NASDAQ:TMCI) last released its earnings results on Tuesday, January 9th. The company reported ($0.22) earnings per share (EPS) for the quarter. Treace Medical Concepts had a negative return on equity of 49.49% and a negative net margin of 22.89%.The company had revenue of $33.06 million during the quarter. Equities research analysts predict that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in TMCI. Charles Schwab Investment Management Inc. lifted its stake in shares of Treace Medical Concepts by 8.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 380,411 shares of the company’s stock valued at $3,192,000 after purchasing an additional 30,901 shares in the last quarter. Nuveen LLC purchased a new position in Treace Medical Concepts in the first quarter valued at approximately $2,120,000. Hsbc Holdings PLC acquired a new position in Treace Medical Concepts during the first quarter valued at approximately $89,000. Ieq Capital LLC purchased a new stake in Treace Medical Concepts during the first quarter worth approximately $111,000. Finally, Driehaus Capital Management LLC purchased a new position in Treace Medical Concepts in the first quarter valued at about $3,929,000. 84.08% of the stock is owned by hedge funds and other institutional investors.

About Treace Medical Concepts

Treace Medical Concepts, Inc is a medical technology company specializing in the development and commercialization of innovative surgical solutions for foot and ankle conditions. The company’s flagship product, the Lapiplasty 3D Bunion Correction System, addresses the underlying joint instability that causes bunion deformity through a patented, multi-plane correction approach. The system combines proprietary instrumentation, fixation plates, and a comprehensive surgical protocol designed to improve patient outcomes and reduce recurrence rates.

The Lapiplasty System has received clearance from the U.S.