Transenterix Inc (TRXC) Short Interest Up 7.4% in November
Transenterix Inc (NYSEAMERICAN:TRXC) was the recipient of a large increase in short interest in the month of November. As of November 30th, there was short interest totalling 14,893,810 shares, an increase of 7.4% from the November 15th total of 13,862,996 shares. Currently, 10.2% of the company’s stock are short sold. Based on an average daily volume of 3,705,307 shares, the short-interest ratio is presently 4.0 days.
Transenterix (TRXC) traded down $0.06 during trading on Monday, hitting $2.17. 1,987,060 shares of the stock were exchanged, compared to its average volume of 3,225,756. Transenterix has a one year low of $0.45 and a one year high of $5.00.
In related news, insider Todd Pope sold 600,000 shares of the company’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $3.68, for a total value 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 document filed with the SEC, which is available through the SEC website. Also, CFO Joseph P. Slattery sold 529,609 shares of the company’s stock in a transaction on 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 completion of 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. Over the last ninety days, insiders sold 1,462,609 shares of company stock valued at $4,666,595.
A number of research firms have recently commented on TRXC. Ladenburg Thalmann Financial Services set a $5.00 price objective on shares of Transenterix and gave the stock a “buy” rating in a research note on Friday, October 20th. Stifel Nicolaus increased their price objective on shares of Transenterix from $3.75 to $4.00 and gave the stock a “buy” rating in a research note on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Transenterix currently has an average rating of “Hold” and a consensus 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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