Titan Medical (NASDAQ:TMDI) Trading Down 9.3%

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

The stock’s 50-day moving average is $2.45 and its 200-day moving average is $1.30. The stock has a market cap 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 bought and sold shares of TMDI. Stratos Wealth Partners LTD. increased its position in Titan Medical by 149.8% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 33,348 shares of the company’s stock worth $25,000 after purchasing an additional 20,000 shares in the last quarter. JPMorgan Chase & Co. increased its position in Titan Medical by 170.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 47,000 shares of the company’s stock worth $35,000 after purchasing an additional 29,600 shares in the last quarter. Morgan Stanley increased its position in Titan Medical by 102.3% during the 3rd quarter. Morgan Stanley now owns 81,114 shares of the company’s stock worth $60,000 after purchasing an additional 41,009 shares in the last quarter. Private Wealth Advisors Inc. increased its position in Titan Medical by 81.8% during the 4th quarter. Private Wealth Advisors Inc. now owns 20,000 shares of the company’s stock worth $34,000 after purchasing an additional 9,000 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Titan Medical during the 4th quarter worth approximately $1,008,000. 3.25% of the stock is owned by hedge funds and other 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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