Virtu Financial LLC Invests $148,000 in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Virtu Financial LLC bought a new stake in shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 25,572 shares of the company’s stock, valued at approximately $148,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new stake in Treace Medical Concepts during the 3rd quarter valued at $38,000. Nisa Investment Advisors LLC lifted its position in shares of Treace Medical Concepts by 34,240.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,272 shares of the company’s stock worth $62,000 after purchasing an additional 9,245 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Treace Medical Concepts in the 3rd quarter worth approximately $58,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in Treace Medical Concepts by 243.4% during 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 period. Finally, Wolverine Trading LLC increased its holdings in Treace Medical Concepts by 17.7% during the third quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock valued at $75,000 after buying an additional 1,946 shares during the period. 84.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Stifel Nicolaus increased their target price on Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, November 6th. Truist Financial boosted their target price on Treace Medical Concepts from $7.00 to $8.40 and gave the stock a “hold” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $8.00 price objective on shares of Treace Medical Concepts in a report on Tuesday. Six research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.88.

Treace Medical Concepts Stock Down 0.6 %

Treace Medical Concepts stock opened at $6.90 on Friday. The business’s 50-day moving average price is $6.91 and its 200 day moving average price is $6.47. Treace Medical Concepts, Inc. has a 52 week low of $3.92 and a 52 week high of $15.98. The firm has a market cap of $429.85 million, a price-to-earnings ratio of -6.97 and a beta of 0.66. The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51.

Treace Medical Concepts (NASDAQ:TMCI) last announced its earnings results on Tuesday, November 5th. The company reported ($0.25) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.27) by $0.02. The business had revenue of $45.09 million for the quarter, compared to analyst estimates of $43.48 million. Treace Medical Concepts had a negative net margin of 30.33% and a negative return on equity of 51.12%. The company’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the business earned ($0.28) earnings per share. As a group, sell-side analysts anticipate that Treace Medical Concepts, Inc. will post -0.92 earnings per share for the current year.

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.