Gagnon Advisors LLC Purchases 565,570 Shares of Treace Medical Concepts, Inc. $TMCI

Gagnon Advisors LLC lifted its position in Treace Medical Concepts, Inc. (NASDAQ:TMCI) by 58.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,534,034 shares of the company’s stock after purchasing an additional 565,570 shares during the quarter. Treace Medical Concepts comprises approximately 2.4% of Gagnon Advisors LLC’s portfolio, making the stock its 18th largest holding. Gagnon Advisors LLC owned approximately 2.41% of Treace Medical Concepts worth $3,758,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TMCI. CIBC Bancorp USA Inc. bought a new position in shares of Treace Medical Concepts in the third quarter worth $122,199,000. Weber Capital Management LLC ADV bought a new position in shares of Treace Medical Concepts in the fourth quarter worth $1,445,000. William Blair Investment Management LLC increased its holdings in shares of Treace Medical Concepts by 17.2% in the third quarter. William Blair Investment Management LLC now owns 3,634,381 shares of the company’s stock worth $24,387,000 after purchasing an additional 534,486 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of Treace Medical Concepts by 36.4% in the third quarter. First Eagle Investment Management LLC now owns 1,238,895 shares of the company’s stock worth $8,313,000 after purchasing an additional 330,866 shares during the period. Finally, Acuitas Investments LLC bought a new position in shares of Treace Medical Concepts in the third quarter worth $2,020,000. Institutional investors own 84.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on TMCI shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Treace Medical Concepts in a report on Monday, April 20th. Lake Street Capital dropped their price objective on shares of Treace Medical Concepts from $7.50 to $7.00 and set a “buy” rating for the company in a report on Monday, March 2nd. Finally, Wall Street Zen raised shares of Treace Medical Concepts from a “strong sell” rating to a “sell” rating in a report on Monday, April 27th. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $4.77.

Insider Buying and Selling

In other Treace Medical Concepts news, CEO John T. Treace bought 61,750 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $2.62 per share, for a total transaction of $161,785.00. Following the transaction, the chief executive officer directly owned 7,158,313 shares in the company, valued at $18,754,780.06. This trade represents a 0.87% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have acquired 371,600 shares of company stock valued at $1,104,801. 23.42% of the stock is owned by company insiders.

Treace Medical Concepts Stock Performance

NASDAQ TMCI opened at $4.06 on Friday. Treace Medical Concepts, Inc. has a 52-week low of $1.17 and a 52-week high of $7.78. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.53 and a current ratio of 3.58. The company has a market capitalization of $263.37 million, a P/E ratio of -4.19 and a beta of 1.40. The company has a fifty day moving average of $2.47 and a 200-day moving average of $2.30.

Treace Medical Concepts (NASDAQ:TMCI) last posted its quarterly earnings data on Friday, May 8th. The company reported ($0.28) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.03. The company had revenue of $47.20 million during the quarter, compared to the consensus estimate of $45.96 million. Treace Medical Concepts had a negative net margin of 29.44% and a negative return on equity of 67.04%. As a group, equities research analysts predict that Treace Medical Concepts, Inc. will post -0.88 EPS for the current fiscal year.

Treace Medical Concepts 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.