Transenterix Inc (TRXC) Shares Mysteriously Jump on Huge Volume — What could be the cause?

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Shares of Transenterix Inc (NYSEMKT:TRXC) are up huge this morning, without any notable news to report on. Over 3.4 million shares have traded hands already as of 10:08 A.M, representing almost five times the daily volume average for the stock. Shares have been jumping around lately on possible Johnson & Johnson acquisition talks, but nothing has yet been announced. This has led investors to speculate over what is causing such a huge jump this morning.

“So thousands and thousands of shares bought after hours,directors 300k option announcement and imminent FDA means nothing (to you),” questioned one investor on social media platform StockTwits.com.

Other investors are wondering if perhaps some sort of news leaked out, and some investors have gotten word of a possible deal. Over 1 million shares traded in just 4 minutes at one point this morning, leading some to believe that someone knows something. It will be interesting to follow this stock as the week goes on and see if some sort of acquisition deal is actually reached.

The stock is up 12.68% or $0.35 following the news, hitting $3.11 per share. About 2.63M shares traded hands or up 126.72% from the average. TRXC has declined 9.80% since June 25, 2015 and is currently downtrending. It has underperformed the S&P500 by 2.09%.

The institutional sentiment decreased to 1.21 in Q2 2015. It’s down 2.41, from 3.62 in 2015Q2. The ratio turned negative, as 12 funds sold all their Transenterix Inc shares they owned while 17 reduced their positions. 10 funds bought stakes while 25 increased their total positions. Institutions now own 41.42 million shares which is 51.78% less than the previous share count of 85.89 million in 2015Q2.

Sv Life Sciences Advisers Llc holds 9.54% of its total portfolio in Transenterix Inc, equating to 7.55 million shares. Stepstone Group Lp owns 3.48 million shares representing 3.7% of their total US portfolio. Moreover, Aisling Capital Llc has 3.31% of their total portfolio invested in the company, equating to 8.34 million shares. The New York-based Pura Vida Investments Llc has a total of 1.05% of their portfolio invested in the stock. Perceptive Advisors Llc, a New York-based fund reported 1.83 million shares owned.

TransEnterix, Inc. is a medical device firm focused on the development and commercialization of a robotic assisted surgical system called the SurgiBot System . The company has a market cap of $311.44 million. The Company’s SurgiBot System is designed to utilize flexible instruments through articulating channels controlled directly by the surgeon with robotic assistance while the surgeon remains patientside within the sterile field. It currently has negative earnings. It has commercialized the SPIDER Surgical System, (the SPIDER System) a manual laparoscopic system in the United States, Europe and the Middle East.