Transenterix Inc (TRXC) Shares Gap Down on Insider Selling

Shares of Transenterix Inc (NYSEAMERICAN:TRXC) gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $2.71, but opened at $2.64. Transenterix shares last traded at $2.49, with a volume of 4598511 shares.

Specifically, CFO Joseph P. Slattery sold 529,609 shares of the 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 transaction, the chief financial officer now directly owns 440,974 shares in the company, valued at $1,234,727.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joseph P. Slattery sold 333,000 shares of the 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 transaction, the chief financial officer now owns 440,974 shares of the company’s stock, valued at $1,292,053.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,462,609 shares of company stock valued at $4,666,595.

TRXC has been the subject of several recent research reports. Ladenburg Thalmann Financial Services set a $5.00 price target on Transenterix and gave the company a “buy” rating in a research note on Friday, October 20th. Stifel Nicolaus increased their price target on Transenterix from $3.75 to $4.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Finally, Zacks Investment Research cut Transenterix from a “buy” rating to a “sell” rating in a research note on Tuesday, August 8th. One 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 currently has a consensus rating of “Hold” and a consensus price target of $2.61.

A hedge fund recently raised its stake in Transenterix stock. Ladenburg Thalmann Financial Services Inc. grew its stake in Transenterix Inc (NYSEAMERICAN:TRXC) by 87.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,150 shares of the medical instruments supplier’s stock after purchasing 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 reporting period.

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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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