Transenterix Inc (TRXC) Sees Large Increase in Short Interest

Transenterix Inc (NYSEAMERICAN:TRXC) saw a significant increase in short interest during the month of December. As of December 29th, there was short interest totalling 15,231,489 shares, an increase of 4.6% from the December 15th total of 14,554,764 shares. Approximately 10.4% of the shares of the stock are short sold. Based on an average trading volume of 2,743,340 shares, the short-interest ratio is presently 5.6 days.

A number of brokerages have recently commented on TRXC. Stifel Nicolaus lifted their price target on shares of Transenterix from $3.75 to $4.00 and gave the stock a “buy” rating in a report on Tuesday, October 31st. BTIG Research reiterated a “hold” rating on shares of Transenterix in a report on Monday, December 18th. Finally, Ladenburg Thalmann Financial Services set a $5.00 price target on shares of Transenterix and gave the stock a “buy” rating in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $2.61.

In other news, CFO Joseph P. Slattery sold 333,000 shares of Transenterix stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $2.93, for a total transaction of $975,690.00. Following the completion of the sale, the chief financial officer now directly owns 440,974 shares in the company, valued at $1,292,053.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Joseph P. Slattery sold 529,609 shares of Transenterix stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $2.80, for a total transaction of $1,482,905.20. Following the sale, the chief financial officer now owns 440,974 shares of the company’s stock, valued at $1,234,727.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,462,609 shares of company stock valued at $4,666,595.

A hedge fund recently raised its stake in Transenterix stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in Transenterix Inc (NYSEAMERICAN:TRXC) by 87.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 79,150 shares of the medical instruments supplier’s stock after purchasing an additional 37,000 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned about 0.05% of Transenterix worth $113,000 as of its most recent filing with the SEC.

Shares of Transenterix (NYSEAMERICAN:TRXC) traded down $0.02 during midday trading on Wednesday, hitting $2.01. 1,731,100 shares of the stock were exchanged, compared to its average volume of 2,431,050. The stock has a market capitalization of $408.45, a P/E ratio of -3.24 and a beta of 2.02. Transenterix has a 1-year low of $0.45 and a 1-year high of $5.00.

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About Transenterix

TransEnterix, Inc is a medical device company. The Company is focused on the development and commercialization of ALF-X Surgical Robotic System (the ALF-X System), and SurgiBot System. The Company’s ALF-X System is a multi-port robotic surgery system, which allows multiple robotic arms to control instruments and a camera.

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