TRXC Stock Price Increased 43.1%: Why It Happened

By Amit Chowdhry ● January 12, 2021
  • The stock price of Transenterix Inc (NYSEAMERICAN: TRXC) increased by 43.1% as it went from a previous close of $1.16 to $1.66 yesterday. This is why it happened.

The stock price of Transenterix Inc (NYSEAMERICAN: TRXC) increased by 43.1% as it went from a previous close of $1.16 to $1.66 yesterday. And the stock price had increased as high as 96.5% during intraday trading. Bloomberg pointed out that the micro-cap stock received mentions in several Reddit forums over the last few days.

A Reddit user compared Transenterix to Intuitive Surgical, which is a $95 billion company that develops robotic products for improving clinical outcomes of patients through minimally invasive surgery. What TransEnterix does is market the Senhance surgical system (cleared by the U.S. Food and Drug Administration in 2017). 

Last week, Transenterix provided an update. And 10 of the systems were installed last year. The company ended 2020 with $17.5 million in cash and equivalents.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.