Shares of TransEnterix Inc (NYSE: TRXC), engaged in the development of medical devices that manipulate tissues for the treatment of hernia formation, obesity, gastroesophageal reflux disease and etc, recorded over 37.0% gain during each of the past two consecutive trading sessions with significant number of shares exchanging hands. TRXC was among the top performers in the U.S. healthcare sector after gaining 37.8% and closed at $3.24 Friday, while recording significant trading volumes of 10.3 million shares. TRXC broke its key technical resistance levels of 30-Day and 50-Day DMAs at $2.43 & $3.09 respectively. The stock’s price rise is attributable to the company’s announcement of successful completion of four general surgery and urology procedures using its SurgiBot, a patient-side robotic surgery system. Management has also stated that the preparation of its FDA 510(k) filing is proceeding as planned and affirmed prior guidance of its intention to submit the filing in mid-2015. During the past 5-trading sessions, TRXC gained 71.4% with daily average trading volumes of 2.6 million shares, while the stock accumulated 36.7% gain during the past one month with daily average trading volumes of 546,525 shares.
Company Description:
TransEnterix, Inc. (NYSE: TRXC) is a medical device company that uses flexible instruments and robotics to improve the outcomes of minimally invasive surgery.
1-Year Stock Chart:
Source: Bloomberg
