Transenterix Inc (TRXC) Shares Soar Today on Acquisition Rumors

Share
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

Shares of Transenterix Inc (NYSEMKT:TRXC) are up again today, as investors continue to speculate if and when an acquisition will take place. The rumors first started last week, with people speculating that perhaps Johnson & Johnson (NYSE:JNJ) could make a bid for the company. The stock is up by close to 50% in the past week already, so if a move doesn’t happen soon, it will be interesting to see what happens with this stock. Johnson & Johnson isn’t the only potential suitor, although they do tend to make the most sense from a business standpoint.

It will be interesting to follow trading on this stock as the week continues. Perhaps we will hear news of a deal being reached, which could send the stock even further. The stock is up 19.11% or $0.69 following the news, hitting $4.3 per share. About 4.97 million shares traded hands or up 152.28% from the average. TRXC has risen 22.79% since July 6, 2015 and is currently uptrending. It has outperformed the S&P500 by 32.26%.

The institutional sentiment decreased to 1.21 in Q2 2015. It’s down 2.41, from 3.62 in 2015Q2. The ratio is 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 $458.56 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.