SafeStitch Medical Inc. (NYSEAMERICAN:TRXC) was down 6.2% on Wednesday . The company traded as low as $1.68 and last traded at $1.70. Approximately 1,495,600 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 2,403,482 shares. The stock had previously closed at $1.60.
A number of equities research analysts have recently weighed in on TRXC shares. Zacks Investment Research lowered SafeStitch Medical from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. BTIG Research reiterated a “hold” rating on shares of SafeStitch Medical in a research report on Monday, December 18th. One investment 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’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $2.61.
Several hedge funds have recently bought and sold shares of the company. Iguana Healthcare Management LLC purchased a new position in shares of SafeStitch Medical in the fourth quarter worth $241,000. Redmile Group LLC purchased a new stake in SafeStitch Medical during the fourth quarter valued at $9,684,000. LPL Financial LLC purchased a new stake in SafeStitch Medical during the fourth quarter valued at $327,000. EAM Investors LLC purchased a new stake in SafeStitch Medical during the fourth quarter valued at $1,333,000. Finally, Virtu Financial LLC purchased a new stake in SafeStitch Medical during the fourth quarter valued at $109,000.
SafeStitch Medical Company Profile
TransEnterix, Inc, a medical device company, engages in the research, development, and sale of medical device robotics to enhance minimally invasive surgery. The company offers Senhance System, a multi-port robotic surgery system, which allows up to four arms to control robotic instruments and a camera in Europe.
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