Birchview Capital LP Buys 93,000 Shares of Treace Medical Concepts, Inc. (NASDAQ:TMCI)

Birchview Capital LP increased its position in Treace Medical Concepts, Inc. (NASDAQ:TMCI - Free Report) by 136.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 161,350 shares of the company's stock after purchasing an additional 93,000 shares during the period. Treace Medical Concepts comprises about 1.0% of Birchview Capital LP's investment portfolio, making the stock its 24th biggest holding. Birchview Capital LP owned 0.26% of Treace Medical Concepts worth $1,200,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC acquired a new stake in Treace Medical Concepts during the third quarter valued at $58,000. State Street Corp lifted its position in shares of Treace Medical Concepts by 4.2% in the third quarter. State Street Corp now owns 997,453 shares of the company's stock worth $5,785,000 after buying an additional 39,907 shares during the last quarter. Barclays PLC boosted its stake in shares of Treace Medical Concepts by 352.2% during the 3rd quarter. Barclays PLC now owns 79,696 shares of the company's stock worth $460,000 after acquiring an additional 62,073 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Treace Medical Concepts during the 3rd quarter valued at about $148,000. Finally, Franklin Resources Inc. bought a new position in shares of Treace Medical Concepts in the 3rd quarter valued at approximately $212,000. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on TMCI shares. Truist Financial lowered their price target on Treace Medical Concepts from $9.50 to $8.00 and set a "hold" rating on the stock in a report on Friday, April 11th. BTIG Research upgraded Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 price objective on the stock in a research report on Tuesday, February 4th. Finally, Lake Street Capital began coverage on shares of Treace Medical Concepts in a research note on Tuesday, December 31st. They set a "buy" rating and a $14.50 price target for the company. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Treace Medical Concepts currently has a consensus rating of "Hold" and a consensus price target of $9.93.

Treace Medical Concepts Trading Up 2.2 %

Shares of TMCI traded up $0.15 during trading hours on Tuesday, hitting $7.05. 363,438 shares of the stock traded hands, compared to its average volume of 750,625. The business has a fifty day moving average of $7.95 and a 200-day moving average of $7.86. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $443.37 million, a PE ratio of -7.12 and a beta of 0.77. Treace Medical Concepts, Inc. has a 1-year low of $3.92 and a 1-year high of $11.33.

Insider Activity

In related news, insider Sean F. Scanlan sold 50,000 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $7.97, for a total value of $398,500.00. Following the transaction, the insider now directly owns 364,081 shares in the company, valued at $2,901,725.57. This represents a 12.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 27.72% 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.