Transenterix Inc (TRXC) Short Interest Up 40.6% in November
Transenterix Inc (NYSEAMERICAN:TRXC) saw a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 13,862,996 shares, a growth of 40.6% from the October 31st total of 9,857,271 shares. Approximately 14.5% of the shares of the company are short sold. Based on an average trading volume of 7,466,647 shares, the days-to-cover ratio is currently 1.9 days.
Shares of Transenterix (NYSEAMERICAN:TRXC) opened at $2.34 on Friday. Transenterix has a twelve month low of $0.45 and a twelve month high of $5.00.
In other news, insider Todd Pope sold 600,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $3.68, for a total transaction of $2,208,000.00. Following the completion of the transaction, the insider now directly owns 462,644 shares of the company’s stock, valued at approximately $1,702,529.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Joseph P. Slattery sold 529,609 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $2.80, for a total value of $1,482,905.20. Following the transaction, the chief financial officer now directly owns 440,974 shares of the company’s stock, valued at $1,234,727.20. The disclosure for this sale can be found here. Insiders sold 1,462,609 shares of company stock valued at $4,666,595 over the last three months.
A hedge fund recently raised its stake in Transenterix stock. Ladenburg Thalmann Financial Services Inc. raised its stake in Transenterix Inc (NYSEAMERICAN:TRXC) by 87.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,150 shares of the medical instruments supplier’s stock after buying an additional 37,000 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned approximately 0.05% of Transenterix worth $113,000 at the end of the most recent quarter.
Several analysts recently commented on TRXC shares. Ladenburg Thalmann Financial Services set a $5.00 price target on Transenterix and gave the stock a “buy” rating in a research report on Friday, October 20th. Stifel Nicolaus boosted their price target on Transenterix from $3.75 to $4.00 and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Finally, Zacks Investment Research cut Transenterix from a “buy” rating to a “sell” rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. Transenterix presently has an average rating of “Hold” and an average target price of $2.61.
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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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