Transenterix Inc (TRXC) Sees Large Drop in Short Interest

Transenterix Inc (NYSEAMERICAN:TRXC) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 14,554,764 shares, a decline of 2.3% from the November 30th total of 14,893,810 shares. Based on an average daily volume of 3,143,493 shares, the short-interest ratio is currently 4.6 days. Currently, 9.9% of the shares of the company are short sold.

In other news, CFO Joseph P. Slattery sold 529,609 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 440,974 shares of the company’s stock, valued at approximately $1,234,727.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph P. Slattery sold 333,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $2.93, for a total value of $975,690.00. Following the completion of the sale, the chief financial officer now directly owns 440,974 shares of the company’s stock, valued at $1,292,053.82. The disclosure for this sale can be found here. Insiders sold a total of 1,462,609 shares of company stock valued at $4,666,595 over the last three months.

An institutional investor recently raised its position in Transenterix stock. Ladenburg Thalmann Financial Services Inc. increased its position in Transenterix Inc (NYSEAMERICAN:TRXC) by 87.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,150 shares of the medical instruments supplier’s stock after acquiring an additional 37,000 shares during the period. Ladenburg Thalmann Financial Services Inc. owned approximately 0.05% of Transenterix worth $113,000 as of its most recent SEC filing.

Transenterix (NYSEAMERICAN TRXC) opened at $1.93 on Tuesday. The stock has a market capitalization of $384.54, a P/E ratio of -3.11 and a beta of 1.98. Transenterix has a 52-week low of $0.45 and a 52-week high of $5.00.

Several analysts have commented on TRXC shares. Ladenburg Thalmann Financial Services set a $5.00 price objective on Transenterix and gave the company a “buy” rating in a research note on Friday, October 20th. BTIG Research reiterated a “hold” rating on shares of Transenterix in a research report on Monday, December 18th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $4.00 target price (up previously from $3.75) on shares of Transenterix in a research report on Monday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $2.61.

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Transenterix Company Profile

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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