Treace Medical Concepts, Inc. (NASDAQ:TMCI) Short Interest Update

Treace Medical Concepts, Inc. (NASDAQ:TMCI) was the recipient of a significant growth in short interest in February. As of February 28th, there was short interest totalling 2,730,000 shares, a growth of 20.8% from the February 13th total of 2,260,000 shares. Approximately 6.1% of the shares of the company are short sold. Based on an average daily trading volume, of 373,500 shares, the short-interest ratio is presently 7.3 days.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TMCI. Lake Street Capital began coverage on shares of Treace Medical Concepts in a research note on Tuesday, December 31st. They issued a “buy” rating and a $14.50 price objective for the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $8.00 price target on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Truist Financial decreased their price objective on Treace Medical Concepts from $10.00 to $9.50 and set a “hold” rating on the stock in a report on Thursday, March 13th. Finally, BTIG Research raised Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 target price for the company in a report on Tuesday, February 4th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $10.14.

Treace Medical Concepts Price Performance

Treace Medical Concepts stock traded up $0.38 during trading hours on Tuesday, hitting $8.35. 157,245 shares of the stock were exchanged, compared to its average volume of 728,451. The stock has a market capitalization of $522.56 million, a P/E ratio of -8.34 and a beta of 0.77. The business’s 50-day moving average is $9.16 and its two-hundred day moving average is $7.42. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.98 and a current ratio of 4.12. Treace Medical Concepts has a 12 month low of $3.92 and a 12 month high of $13.24.

Institutional Investors Weigh In On Treace Medical Concepts

A number of large investors have recently bought and sold shares of the business. Quarry LP bought a new position in Treace Medical Concepts in the 3rd quarter valued at $38,000. HighTower Advisors LLC acquired a new stake in shares of Treace Medical Concepts in the third quarter valued at $58,000. Point72 Asia Singapore Pte. Ltd. raised its holdings in shares of Treace Medical Concepts by 243.4% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company’s stock valued at $62,000 after buying an additional 7,522 shares during the last quarter. Quantbot Technologies LP acquired a new position in Treace Medical Concepts during the 4th quarter worth about $69,000. Finally, Wolverine Trading LLC grew its holdings in Treace Medical Concepts by 17.7% during the 3rd quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock worth $75,000 after acquiring an additional 1,946 shares during the last quarter. 84.08% of the stock is currently owned by institutional investors.

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.