ExodusPoint Capital Management LP Takes Position in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

ExodusPoint Capital Management LP acquired a new position in Treace Medical Concepts, Inc. (NASDAQ:TMCI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 33,721 shares of the company’s stock, valued at approximately $251,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trexquant Investment LP grew its position in shares of Treace Medical Concepts by 7.0% during the 4th quarter. Trexquant Investment LP now owns 318,889 shares of the company’s stock worth $2,373,000 after buying an additional 21,000 shares during the period. Geode Capital Management LLC boosted its stake in Treace Medical Concepts by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 1,062,765 shares of the company’s stock valued at $7,909,000 after acquiring an additional 22,159 shares during the last quarter. Norges Bank acquired a new stake in Treace Medical Concepts during the 4th quarter worth $490,000. JPMorgan Chase & Co. raised its position in shares of Treace Medical Concepts by 56.6% during the 4th quarter. JPMorgan Chase & Co. now owns 1,977,219 shares of the company’s stock valued at $14,711,000 after acquiring an additional 714,984 shares during the last quarter. Finally, Fox Run Management L.L.C. lifted its stake in shares of Treace Medical Concepts by 54.0% in the 4th quarter. Fox Run Management L.L.C. now owns 20,073 shares of the company’s stock valued at $149,000 after purchasing an additional 7,040 shares during the period. 84.08% of the stock is owned by institutional investors.

Treace Medical Concepts Trading Down 3.6 %

NASDAQ:TMCI opened at $6.74 on Monday. The business’s 50-day simple moving average is $8.73 and its 200-day simple moving average is $7.77. Treace Medical Concepts, Inc. has a fifty-two week low of $3.92 and a fifty-two week high of $11.95. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98. The stock has a market capitalization of $423.88 million, a PE ratio of -6.81 and a beta of 0.77.

Analyst Upgrades and Downgrades

TMCI has been the subject of a number of analyst reports. Truist Financial decreased their price objective on Treace Medical Concepts from $9.50 to $8.00 and set a “hold” rating for the company in a research note on Friday. JPMorgan Chase & Co. restated a “neutral” rating and set a $8.00 target price on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Lake Street Capital began coverage on shares of Treace Medical Concepts in a research report on Tuesday, December 31st. They issued a “buy” rating and a $14.50 price target on the stock. Finally, BTIG Research upgraded shares of Treace Medical Concepts from a “neutral” rating to a “buy” rating and set a $16.00 price objective 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 stock. According to data from MarketBeat.com, Treace Medical Concepts presently has an average rating of “Hold” and a consensus price target of $9.93.

Insider Activity

In other Treace Medical Concepts news, insider Sean F. Scanlan sold 50,000 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $7.97, for a total transaction of $398,500.00. Following the completion of the transaction, the insider now owns 364,081 shares in the company, valued at approximately $2,901,725.57. This represents a 12.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 24.43% of the company’s stock.

Treace Medical Concepts Profile

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.