Transenterix Inc (TRXC) Shares Down 0%
Transenterix Inc (NASDAQ:TRXC) dropped 0% during trading on Tuesday . The company traded as low as $2.51 and last traded at $2.53. Approximately 5,936,764 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 15,430,000 shares. The stock had previously closed at $2.53.
TRXC has been the topic of a number of analyst reports. Zacks Investment Research upgraded Transenterix from a “hold” rating to a “buy” rating and set a $0.75 price target on the stock in a research report on Thursday, July 13th. Ladenburg Thalmann Financial Services set a $5.00 price target on Transenterix and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $4.00 price objective (up from $3.75) on shares of Transenterix in a research note on Monday, October 30th.
In other news, insider Todd Pope sold 600,000 shares of the business’s stock in a transaction dated Wednesday, October 18th. The stock was sold at an average price of $3.68, for a total value of $2,208,000.00. Following 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 Securities & Exchange Commission, which can be accessed through the SEC website.
Several large investors have recently made changes to their positions in TRXC. Sabby Management LLC acquired a new position in shares of Transenterix in the 2nd quarter valued at about $2,456,000. Goldman Sachs Group Inc. raised its stake in Transenterix by 7,137.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 1,203,199 shares of the company’s stock worth $854,000 after buying an additional 1,186,575 shares during the period. UBS Oconnor LLC acquired a new position in Transenterix during the 2nd quarter worth approximately $390,000. LMR Partners LLP acquired a new position in Transenterix during the 2nd quarter worth approximately $189,000. Finally, Global X Management Co. LLC raised its stake in Transenterix by 238.3% during the 2nd quarter. Global X Management Co. LLC now owns 331,075 shares of the company’s stock worth $235,000 after buying an additional 233,213 shares during the period.
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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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