Titan Medical (NASDAQ:TMDI) Trading Down 9.3%

Titan Medical Inc. (NASDAQ:TMDI)’s share price dropped 9.3% during trading on Tuesday . The company traded as low as $2.00 and last traded at $2.34. Approximately 5,406,667 shares were traded during mid-day trading, an increase of 7% from the average daily volume of 5,043,248 shares. The stock had previously closed at $2.58.

The business’s fifty day moving average price is $2.45 and its 200 day moving average price is $1.30. The firm has a market capitalization of $212.01 million, a price-to-earnings ratio of 217.00 and a beta of 3.53.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC acquired a new position in Titan Medical in the 4th quarter valued at $1,008,000. Armistice Capital LLC acquired a new position in Titan Medical in the 4th quarter valued at $477,000. Morgan Stanley increased its stake in Titan Medical by 102.3% in the 3rd quarter. Morgan Stanley now owns 81,114 shares of the company’s stock valued at $60,000 after buying an additional 41,009 shares during the period. JPMorgan Chase & Co. increased its stake in Titan Medical by 43.6% in the 4th quarter. JPMorgan Chase & Co. now owns 67,500 shares of the company’s stock valued at $115,000 after buying an additional 20,500 shares during the period. Finally, Stratos Wealth Partners LTD. increased its stake in Titan Medical by 55.5% in the 4th quarter. Stratos Wealth Partners LTD. now owns 51,848 shares of the company’s stock valued at $89,000 after buying an additional 18,500 shares during the period. 3.25% of the stock is currently owned by institutional investors.

Titan Medical Company Profile (NASDAQ:TMDI)

Titan Medical Inc, a research and development stage company, focuses on the design, development, and commercialization of computer-assisted robotic surgical technologies for application in minimally invasive surgery (MIS). The company is developing the SPORT Surgical System, a single-port robotic surgical system that comprises a surgeon-controlled patient cart, which includes a 3D high definition vision system and multi-articulating instruments for performing MIS procedures; and a surgeon workstation that provides the surgeon with ergonomic interface to the patient cart and a 3D endoscopic view inside the patient's body during MIS procedures.

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