Treace Medical Concepts (NASDAQ:TMCI) Shares Gap Up – What’s Next?

Treace Medical Concepts, Inc. (NASDAQ:TMCI)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $8.84, but opened at $9.36. Treace Medical Concepts shares last traded at $9.39, with a volume of 74,510 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on TMCI shares. Stifel Nicolaus boosted their target price on Treace Medical Concepts from $7.00 to $8.00 and gave the company a “hold” rating in a research note on Wednesday, November 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $8.00 price objective on shares of Treace Medical Concepts in a research report on Tuesday, December 17th. Truist Financial raised their target price on shares of Treace Medical Concepts from $8.40 to $10.00 and gave the stock a “hold” rating in a report on Monday. Lake Street Capital started coverage on shares of Treace Medical Concepts in a report on Tuesday, December 31st. They set a “buy” rating and a $14.50 price target for the company. Finally, 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, February 4th. Five research 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 has a consensus rating of “Hold” and a consensus target price of $10.21.

Treace Medical Concepts Trading Up 2.7 %

The company has a quick ratio of 2.98, a current ratio of 4.12 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average is $8.99 and its two-hundred day moving average is $7.29. The firm has a market cap of $565.72 million, a P/E ratio of -9.16 and a beta of 0.75.

Institutional Investors Weigh In On Treace Medical Concepts

A number of large investors have recently modified their holdings of the stock. Quarry LP bought a new position in Treace Medical Concepts in the third quarter worth about $38,000. Quantbot Technologies LP bought a new position in shares of Treace Medical Concepts in the 4th quarter worth approximately $69,000. HighTower Advisors LLC bought a new position in shares of Treace Medical Concepts in the 3rd quarter worth approximately $58,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Treace Medical Concepts in the 4th quarter valued at approximately $77,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Treace Medical Concepts during the fourth quarter valued at approximately $77,000. Institutional investors own 84.08% of the company’s stock.

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.