AlphaQuest LLC Invests $91,000 in Treace Medical Concepts, Inc. (NASDAQ:TMCI)

AlphaQuest LLC purchased a new position in Treace Medical Concepts, Inc. (NASDAQ:TMCI) during the fourth quarter, HoldingsChannel reports. The firm purchased 12,255 shares of the company’s stock, valued at approximately $91,000.

Several other institutional investors also recently bought and sold shares of TMCI. Quarry LP purchased a new position in Treace Medical Concepts in the third quarter worth 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. lifted its position 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 valued at $62,000 after acquiring an additional 7,522 shares in the last quarter. Wolverine Trading LLC boosted its stake in Treace Medical Concepts by 17.7% during the 3rd quarter. Wolverine Trading LLC now owns 12,946 shares of the company’s stock valued at $75,000 after purchasing an additional 1,946 shares during the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of Treace Medical Concepts in the 3rd quarter worth $75,000. 84.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Treace Medical Concepts Trading Up 5.8 %

TMCI stock opened at $8.43 on Wednesday. The company has a market capitalization of $527.88 million, a price-to-earnings ratio of -8.52 and a beta of 0.77. The business has a 50 day simple moving average of $9.17 and a two-hundred day simple moving average of $7.43. Treace Medical Concepts, Inc. has a 1-year low of $3.92 and a 1-year high of $13.24. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.12 and a quick ratio of 2.98.

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.