Short Interest in Transenterix Inc (TRXC) Rises By 4.6%

Transenterix Inc (NYSEAMERICAN:TRXC) was the recipient of a significant increase in short interest during the month of December. As of December 29th, there was short interest totalling 15,231,489 shares, an increase of 4.6% from the December 15th total of 14,554,764 shares. Based on an average daily volume of 2,743,340 shares, the days-to-cover ratio is currently 5.6 days. Approximately 10.4% of the shares of the stock are sold short.

TRXC has been the subject of several recent analyst reports. Ladenburg Thalmann Financial Services set a $5.00 target price on Transenterix and gave the stock a “buy” rating in a research note on Friday, October 20th. BTIG Research reissued a “hold” rating on shares of Transenterix in a research note on Monday, December 18th. Stifel Nicolaus reissued a “buy” rating and set a $4.00 target price (up previously from $3.75) on shares of Transenterix in a research note on Monday, October 30th. Finally, Zacks Investment Research cut Transenterix from a “hold” rating to a “sell” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $2.61.

Shares of Transenterix (TRXC) opened at $1.99 on Friday. The stock has a market capitalization of $408.45, a price-to-earnings ratio of -3.21 and a beta of 2.02. Transenterix has a one year low of $0.45 and a one year high of $5.00.

In related news, insider Todd Pope sold 600,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now owns 462,644 shares of the company’s stock, valued at $1,702,529.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Joseph P. Slattery sold 529,609 shares of the firm’s stock in a transaction on 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 approximately $1,234,727.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,462,609 shares of company stock valued at $4,666,595.

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

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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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