Treace Medical Concepts, Inc. (TMCI) saw its stock plummet 5.21% in the intraday trading session on Monday. The decline came as analysts from major financial institutions maintained their neutral ratings and price targets for the company.
Truist Securities reiterated its "Hold" rating on TMCI, while UBS adjusted its price target to $10 from $7.90 but kept a "Neutral" rating. According to analysts polled by FactSet, TMCI has an average rating of "Overweight" and a mean price target of $11.36.
The stock's plummet appears to be driven by the analysts' cautious outlook and lukewarm ratings, rather than any specific negative news or events related to the company. Investors may have reacted to the lack of bullish sentiment from analysts, leading to a sell-off in TMCI shares.
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