Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Treace Medical Concepts Inc shares valued at $27,631,850 were sold by BAYS F BARRY on Jun 05 ’23. At $26.51 per share, BAYS F BARRY sold 1,042,318 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, BAYS F BARRY sold 48,503 shares, netting a total of over 1,285,815 in proceeds. Following the sale of shares at $26.51 each, the insider now holds 1,042,318 shares.
Before that, Scanlan Sean F. had sold 25,000 shares from its account. In a trade valued at $635,978, the Chief Innovation Officer traded Treace Medical Concepts Inc shares for $25.44 each. Upon closing the transaction, the insider’s holdings decreased to 25,000 shares, worth approximately $0.14 million.
As published in a research note from Truist on May 08, 2024, Treace Medical Concepts Inc [TMCI] has been rated down from a Buy to a Hold and the price target has been revised to $7 from $17. Analysts at Stifel downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early May. As of May 08, 2024, Morgan Stanley has decreased its “an Overweight” rating to a “an Equal-weight” for TMCI. Earlier on May 08, 2024, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for TMCI stock which previously was a “an Overweight”.
Analyzing TMCI Stock Performance
During the last five days, there has been a drop of approximately -61.60%. Over the course of the year, Treace Medical Concepts Inc shares have dropped approximately -67.29%. Shares of the company reached a 52-week high of $15.98 on 02/12/24 and a 52-week low of $3.92 on 05/08/24. A 50-day SMA is recorded $11.83, while a 200-day SMA reached $12.80. Nevertheless, trading volume fell to 15.56 million shares from 0.41 million shares the previous day.
Support And Resistance Levels for Treace Medical Concepts Inc (TMCI)
According to the 24-hour chart, there is a support level at 3.85, which, if violated, would cause prices to drop to 3.52. In the upper region, resistance lies at 4.57. The next price resistance is at 4.96. RSI (Relative Strength Index) is 15.01 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.48, which suggests the price will decrease in the coming days. Percent R is at 96.71%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
