Transenterix (TRXC) Shares Gap Down to $2.27

Shares of Transenterix Inc (NYSEAMERICAN:TRXC) gapped down prior to trading on Thursday . The stock had previously closed at $2.32, but opened at $2.27. Transenterix shares last traded at $2.22, with a volume of 2119700 shares changing hands.

TRXC has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on Transenterix from $3.75 to $4.00 and gave the company a “buy” rating in a report on Tuesday, October 31st. 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. 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 stock. The stock has a consensus rating of “Hold” and a consensus target price of $2.61.

In other news, CFO Joseph P. Slattery sold 529,609 shares of the firm’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 sale, the chief financial officer now directly owns 440,974 shares of the company’s stock, valued at $1,234,727.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Todd Pope sold 600,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 462,644 shares in the company, valued at $1,702,529.92. The disclosure for this sale can be found here. Insiders have sold 1,462,609 shares of company stock worth $4,666,595 over the last three months.

An institutional investor recently raised its position in Transenterix stock. Ladenburg Thalmann Financial Services Inc. lifted its stake in Transenterix Inc (NYSEAMERICAN:TRXC) by 87.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 79,150 shares of the medical instruments supplier’s stock after buying an additional 37,000 shares during the period. Ladenburg Thalmann Financial Services Inc. owned about 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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