Treace Medical Concepts (NASDAQ:TMCI) Shares Gap Up - What's Next?

Treace Medical Concepts, Inc. (NASDAQ:TMCI - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $9.69, but opened at $10.47. Treace Medical Concepts shares last traded at $10.11, with a volume of 215,049 shares traded.

Analyst Ratings Changes

A number of equities research analysts have commented on TMCI shares. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $8.00 target price on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Lake Street Capital started coverage on Treace Medical Concepts in a report on Tuesday, December 31st. They issued a "buy" rating and a $14.50 target price on the stock. Truist Financial raised their target price on Treace Medical Concepts from $7.00 to $8.40 and gave the stock a "hold" rating in a research report on Wednesday, December 18th. BTIG Research raised shares of Treace Medical Concepts from a "neutral" rating to a "buy" rating and set a $16.00 price target for the company in a research report on Tuesday. Finally, Stifel Nicolaus increased their price objective on shares of Treace Medical Concepts from $7.00 to $8.00 and gave the stock a "hold" rating in a research note on Wednesday, November 6th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $9.99.

Treace Medical Concepts Trading Down 0.3 %

The stock has a 50 day moving average of $8.26 and a 200-day moving average of $6.92. The company has a market capitalization of $638.58 million, a P/E ratio of -10.35 and a beta of 0.75. The company has a current ratio of 4.12, a quick ratio of 2.98 and a debt-to-equity ratio of 0.51.

Treace Medical Concepts (NASDAQ:TMCI - Get Free Report) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.25) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.02. The business had revenue of $45.09 million during 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 was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.28) earnings per share. On average, research analysts predict that Treace Medical Concepts, Inc. will post -0.92 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Treace Medical Concepts in the third quarter valued at about $38,000. HighTower Advisors LLC purchased a new position in Treace Medical Concepts in the 3rd quarter worth approximately $58,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in Treace Medical Concepts by 243.4% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,613 shares of the company's stock worth $62,000 after purchasing an additional 7,522 shares during the period. AlphaQuest LLC bought a new position in Treace Medical Concepts in the 4th quarter worth approximately $91,000. Finally, Wolverine Trading LLC raised its position in shares of 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 last quarter. Institutional investors own 84.08% of the company's stock.

Treace Medical Concepts Company 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.