301,100 Shares in Treace Medical Concepts, Inc. $TMCI Purchased by Acuitas Investments LLC

Acuitas Investments LLC bought a new stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) in the third quarter, Holdings Channel reports. The fund bought 301,100 shares of the company’s stock, valued at approximately $2,020,000. Treace Medical Concepts comprises about 0.9% of Acuitas Investments LLC’s portfolio, making the stock its 26th biggest holding.

A number of other hedge funds have also modified their holdings of TMCI. Farther Finance Advisors LLC acquired a new stake in shares of Treace Medical Concepts in the second quarter valued at approximately $28,000. Osaic Holdings Inc. lifted its stake in Treace Medical Concepts by 328.3% during the second quarter. Osaic Holdings Inc. now owns 4,793 shares of the company’s stock worth $28,000 after purchasing an additional 3,674 shares in the last quarter. Captrust Financial Advisors purchased a new position in shares of Treace Medical Concepts during the second quarter worth $62,000. Invesco Ltd. boosted its position in shares of Treace Medical Concepts by 18.6% during the second quarter. Invesco Ltd. now owns 15,051 shares of the company’s stock worth $88,000 after buying an additional 2,362 shares during the period. Finally, Qube Research & Technologies Ltd acquired a new position in Treace Medical Concepts during the 2nd quarter worth about $102,000. 84.08% of the stock is currently owned by institutional investors and hedge funds.

Treace Medical Concepts Price Performance

Shares of NASDAQ TMCI opened at $2.30 on Friday. The stock has a fifty day moving average price of $2.67 and a 200 day moving average price of $4.97. Treace Medical Concepts, Inc. has a 1-year low of $2.28 and a 1-year high of $10.79. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.37 and a quick ratio of 2.36. The company has a market cap of $146.56 million, a PE ratio of -2.88 and a beta of 0.74.

Treace Medical Concepts (NASDAQ:TMCI) last issued its earnings results on Thursday, November 6th. The company reported ($0.26) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.02. The company had revenue of $50.21 million for the quarter, compared to analyst estimates of $49.60 million. Treace Medical Concepts had a negative net margin of 22.89% and a negative return on equity of 49.49%. Sell-side analysts forecast that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating on the stock in a report on Wednesday, January 7th. Wall Street Zen cut Treace Medical Concepts from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. UBS Group lowered their target price on 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. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $5.00 price objective (down previously from $8.00) on shares of Treace Medical Concepts in a research note on Friday, November 7th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Treace Medical Concepts in a research note on Wednesday, January 21st. Four analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $6.57.

Treace Medical Concepts Company Profile

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.