TransEnterix, Inc. (NYSEAMERICAN:TRXC) shares rose 14.4% during trading on Thursday . The company traded as high as $2.15 and last traded at $1.99. Approximately 56,108,488 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 63,814,520 shares. The stock had previously closed at $1.74. TRXC has been the subject […] Here are the 26 hottest cannabis startups that are set to take off in 2021, according to top investors Berkadia acquires apartment brokerage practice of Moran & Company, expanding core capabilities and enhancing focus on institutional investment sales. The FDA delivered a powerful shot of good news to the company. Zee Business News LIVE Updates | Stock Market Live Update | Business News Live | Zee Business LIVE #ButgetOnZee #Budget2021 #MutualFunds in the segment you can watch latest business news, stock market news, share market news, sensex nifty, sensex share market, sensex news, nifty share price, nifty sensex,finance news, live sensex, live sensex today, business […] What investors should watch in Big Bank earnings, according to KBW CEO Michaud
TransEnterix, Inc. (NYSEAMERICAN:TRXC) shares rose 14.4% during trading on Thursday . The company traded as high as $2.15 and last traded at $1.99. Approximately 56,108,488 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 63,814,520 shares. The stock had previously closed at $1.74.
TRXC has been the subject of a number of analyst reports. Zacks Investment Research cut TransEnterix from a “buy” rating to a “hold” rating in a research report on Thursday, January 7th. Raymond James reiterated a “hold” rating on shares of TransEnterix in a research report on Monday, November 9th.
The firm has a 50 day moving average of $0.53.
Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE increased its holdings in shares of TransEnterix by 316.5% in the 2nd quarter. Bank of America Corp DE now owns 61,753 shares of the medical instruments supplier’s stock valued at $33,000 after acquiring an additional 46,926 shares during the period. AQR Capital Management LLC purchased a new position in shares of TransEnterix in the 2nd quarter valued at $29,000. Jane Street Group LLC increased its holdings in shares of TransEnterix by 158.5% in the 2nd quarter. Jane Street Group LLC now owns 59,192 shares of the medical instruments supplier’s stock valued at $32,000 after acquiring an additional 36,290 shares during the period. BlackRock Inc. increased its holdings in shares of TransEnterix by 217.1% in the 3rd quarter. BlackRock Inc. now owns 891,753 shares of the medical instruments supplier’s stock valued at $310,000 after acquiring an additional 610,529 shares during the period. Finally, Bridgeway Capital Management Inc. purchased a new position in shares of TransEnterix in the 2nd quarter valued at $152,000.
About TransEnterix (NYSEAMERICAN:TRXC)
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.
Further Reading: What is a growth and income fund?
Receive News & Ratings for TransEnterix Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for TransEnterix and related companies with MarketBeat.com’s FREE daily email newsletter.
GSE Systems (NASDAQ:GVP) Shares Up 14.2%
Allogene Therapeutics (NASDAQ:ALLO) Trading 14.4% Higher
Author: ABMN Staff
Palantir Stock Can Overcome the Naysayers – Investors News
Is Palantir (NYSE:PLTR) a safe investment? This is the essential question that investors have been trying to answer since the shadowy software company that specializes in big-data analytics went public on Sept. 30 of last year. And it’s fair to say that PLTR stock has sent mixed signals since its market debut.
After entering the New York Stock Exchange at $9.50 a share, the stock languished until late November when it began rallying, eventually rising more than 200% to a high of $33.50.
However, the share price has fallen 25% in recent weeks and seems to be stuck around $25 a share. Even at current levels, many analysts say Palantir stock looks to be overvalued. And many investors remain concerned about the company’s work on heavily guarded U.S. federal contracts in the areas of surveillance and national security, areas that Palantir is expanding in.
Here, we unpack what’s going on with PLTR stock.
Part of the reason that PLTR stock has been slumping in recent weeks is that the lock-up period related to its initial public offering (IPO) is set to expire in mid-February. The lock-up period prevents company insiders from selling their holdings of Palantir stock for a set period of time.
When the lock-up ends in February, those insiders will be free to sell their holdings, and that could increase the supply of stock on the market. Retail investors could be looking to sell their shares before the lock-up period expires. Other investors could be taking profits after the stock’s big run in November and December.
Other issues that could be weighing on PLTR stock include the transparency of its government contracts related to national security. Some media and critics claim that Palantir helps the U.S. government spy on its citizens. (There are even reports the company helped locate Osama Bin Laden.) While those claims may not be true, they have conspired to hurt the company’s reputation and given pause to some investors.
Also, much of Palantir’s growth comes from helping governments and other clients navigate economic and geopolitical risks and uncertainty. Last year, with a global pandemic raging, was very good for Palantir’s data-analytics business. However, as we put the Covid-19 pandemic in our rearview mirror, the growth prospects for Palantir in 2021 remain less clear.
Additionally, some analysts have claimed that Palantir is too focused on government work, grumbling that the company’s products don’t scale as easily as other Software-as-a-Service (SaaS) companies, which could also hurt its future growth.
On the flip side of the coin, Palantir’s business has been performing well since its IPO was launched at the end of September. The company has announced a new two-year contract with the U.K.’s National Health Service that’s worth $31.5 million and renewed a contract with the U.S. Army that is worth $114 million.
Additionally, Palantir has reported some strong earnings results. For the third quarter of 2020, Palantir’s revenues rose an impressive 52% year-over-year. Revenue from government contracts was up 68% year-over-year, while revenues from commercial businesses increased 35% on an annualized basis. Palantir’s gross margins were 72% in the first half of 2020.
Palantir also has a large addressable market in front of it. The company’s estimates put that market at right around $120 billion. And Palantir has an impressive track record of securing contracts with governments around the world — most of which are multi-year, multi-million dollar arrangements.
Plus, it’s hard to argue with the track record of Palantir’s founders. One cofounder, Peter Thiel, also co-founded PayPal (NASDAQ:PYPL) and was an early investor in Facebook (NASDAQ:FB).
Right now, there’s no shortage of Palantir bears. In recent weeks, analysts at Citigroup (NYSE:C), Credit Suisse (NYSE:CS) and Morgan Stanley (NYSE:MS) have each downgraded PLTR stock. But are these bears taking a long-term view of Palantir?
Much of the current weakness is due to the coming expiration of the IPO lock-up period and profit taking. Looking out six to 12 months, Palantir’s business is doing well and its prospects are bright. The people behind the company have a proven track record.
For these reasons, PLTR stock should be able to survive the naysayers and perform well in 2021 and beyond. Investors should view the current pull back in PLTR stock as a buying opportunity.
On the date of publication, Joel Baglole held a long position in FB.
Joel Baglole has been a business journalist for 20 years. He spent five years as a staff reporter at The Wall Street Journal, and has also written for The Washington Post and Toronto Star newspapers, as well as financial websites such as The Motley Fool and Investopedia.
Berkadia Acquires Moran & Company’s Apartment Brokerage Practice to Further Expand Its Institutional Investment Sales Capabilities
Why Lexicon Pharmaceuticals Stock Doubled and Then Some on Thursday
Now this is a stock pop. On Thursday, shares of Lexicon Pharmaceutials (NASDAQ:LXRX) jumped 105% (no, that’s not a typo) after the company issued a major positive regulatory update.
The happy news is that Lexicon’s clinical-stage protein inhibitor sotagliflozin performed well enough in phase 3 clinical trials to support a New Drug Application (NDA) from the Food and Drug Administration. This paves the way for sotagliflozin to win approval for treating patients at risk of heart failure.
The company said that this “clears a key hurdle for partnership discussions around sotagliflozin … and enables a potential NDA filing in 2021.” It did not name any potential partners.
Image source: Getty Images.
Previously, Lexicon had partnered with global pharmaceutical industry giant Sanofi (NASDAQ:SNY) on developing sotagliflozin to combat diabetes. Disappointing clinical results prompted Sanofi to terminate the collaboration in 2019.
Lexicon had received a $300 million up-front payment in that deal, but could have picked up $1.4 billion in milestone payments if the drug had advanced further as a diabetes treatment. Sanofi paid the company $260 million to exit their arrangement.
Following the Sanofi divorce, Lexicon has been a biotech in urgent need of good news, and on Thursday it received a huge dose of it. Heart disease is the leading cause of death in the U.S., and heart failure is one of the disease’s more common complications. Sotagliflozin, then, will have significant potential in the now-likely case that it comes to market.
Author: Eric Volkman
Traders Diary | Zee Business LIVE TV | Breaking News | Stock Market Update | January 14, 2021
Zee Business is India’s Number 1 Hindi business news channel. It’s your channel for profit and wealth. Watch Live coverage of Indian markets – Sensex & Nifty, also for expert insights and advise from our team of experts.
Follow us on Google News for latest updates
Virgin Galactic, Delta Send Stock Markets Flying Higher – Investors News
Stocks have started out 2021 on an optimistic note, sending most major stock market benchmarks to all-time highs in recent days. On Thursday, that optimism continued to take shape. Even with a big rise in jobless claims, investors seem hopeful that Washington will be able to reach some compromise that will allow Americans to get larger stimulus checks than the $600 that just got approved. As of 10:30 a.m. EST, the Dow Jones Industrial Average (DJINDICES:^DJI) was up 136 points to 31,197. The S&P 500 (SNPINDEX:^GSPC) had risen 13 points to 3,823, and the Nasdaq Composite (NASDAQINDEX:^IXIC) had picked up 84 points to 13,214.
The aerospace industry had a couple of the biggest winners on Thursday. Shares of Virgin Galactic Holdings (NYSE:SPCE) spiked higher on news that has more to do with Wall Street than orbital mechanics, while Delta Air Lines (NYSE:DAL) has airline stock investors feeling more confident about what 2021 will bring.
Image source: Getty Images.
Shares of Virgin Galactic launched higher faster than a speeding rocket on Thursday morning. The 20% gain came amid news that a new investment vehicle could well end up becoming a major investor in the space tourism company.
Exchange-traded fund specialist ARK Investment Management has been one of the leaders of the ETF industry in recent years, with its actively traded ETFs soaring far above the returns of the stock market. Today, ARK filed papers with the U.S. Securities and Exchange Commission to create an ETF that will focus on space exploration.
There aren’t that many publicly traded companies that offer exposure to space right now. Many of the top players are still privately held, most notably Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin. That makes it likely that Virgin Galactic could get a relatively substantial initial position in the ETF.
The news reflects the following that ARK and its star investor Cathie Wood have gained. Given the performance that ARK’s other ETFs have had, Virgin Galactic should be honored even to be considered.
Slightly closer to the ground, shares of Delta Air Lines were higher by 4% Thursday. The airline giant released its fourth-quarter financial results, and although 2020 was a brutal year, shareholders were excited about what the future might bring.
Delta’s numbers were ugly. Revenue was down 69% from year-ago levels as the pandemic continued to weigh on traffic. That caused a pre-tax adjusted loss of $2.1 billion, which excludes almost $1 billion in additional costs from Delta’s responses to COVID-19. For the full year, operating revenue plunged 66%, and adjusted pre-tax losses amounted to $9 billion.
Delta believes things will turn around in 2021, but it won’t come quickly. Its first-quarter forecast calls for total revenue to fall 60% to 65%, and Delta will still burn between $10 million and $15 million in cash every day. However, with $18 billion to $19 billion in available liquidity, the airline should have the capacity to weather the storm as long as conditions improve as the year goes on.
Airline investors have been surprisingly willing to look forward to the future, boosting their share prices long before any real signs of improvement took shape. Now, it’ll be up to Delta and its peers to woo travelers back into the skies once the pandemic is fully under control. Until that happens, Delta could see tough times ahead.