Transenterix Inc (TRXC) Sees Large Volume Increase

Shares of Transenterix Inc (NASDAQ:TRXC) saw unusually-strong trading volume on Monday . Approximately 80,347,451 shares traded hands during mid-day trading, an increase of 6,105% from the previous session’s volume of 1,294,830 shares.The stock last traded at $2.81 and had previously closed at $1.46.

Separately, Zacks Investment Research raised shares of Transenterix from a “hold” rating to a “buy” rating and set a $0.75 price objective on the stock in a research note on Thursday, July 13th.

The company’s 50 day moving average price is $1.28 and its 200-day moving average price is $0.87. The stock’s market cap is $417.39 million.

Several institutional investors have recently modified their holdings of the company. Sabby Management LLC bought a new position in shares of Transenterix in the second quarter worth approximately $2,456,000. Goldman Sachs Group Inc. grew its holdings in shares of Transenterix by 7,137.7% in the second quarter. Goldman Sachs Group Inc. now owns 1,203,199 shares of the company’s stock worth $854,000 after purchasing an additional 1,186,575 shares during the last quarter. UBS Oconnor LLC bought a new position in shares of Transenterix in the second quarter worth approximately $390,000. Royal Bank of Canada grew its holdings in shares of Transenterix by 17.1% in the second quarter. Royal Bank of Canada now owns 418,867 shares of the company’s stock worth $298,000 after purchasing an additional 61,034 shares during the last quarter. Finally, Global X Management Co. LLC grew its holdings in shares of Transenterix by 238.3% in the second quarter. Global X Management Co. LLC now owns 331,075 shares of the company’s stock worth $235,000 after purchasing an additional 233,213 shares during the last quarter.

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About Transenterix

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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