Transenterix (TRXC) Trading Down 9%
Transenterix Inc (NYSEAMERICAN:TRXC) was down 9% on Tuesday . The stock traded as low as $2.12 and last traded at $2.13. Approximately 3,993,300 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 3,250,464 shares. The stock had previously closed at $2.34.
Several equities research analysts recently weighed in on TRXC shares. Zacks Investment Research lowered Transenterix from a “buy” rating to a “sell” rating in a report on Tuesday, August 8th. Ladenburg Thalmann Financial Services set a $5.00 target price on Transenterix and gave the company a “buy” rating in a report on Friday, October 20th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $4.00 target price (up previously from $3.75) on shares of Transenterix in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $2.61.
In other news, CFO Joseph P. Slattery sold 333,000 shares of the company’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $2.93, for a total transaction of $975,690.00. Following the transaction, the chief financial officer now directly owns 440,974 shares of the company’s stock, valued at $1,292,053.82. The sale was disclosed in a filing with the SEC, which is available at 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 shares were 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 in the company, 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 worth $4,666,595.
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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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