Endologix (ELGX) : The traders have covered their outstanding shorts in Endologix (ELGX) to the tune of -135,546 shares, a change of -0.9%. As on Jul 29, 2016, the outstanding shorts on the stock were 15,618,902 shares, however, by August 15, 2016, the shorts had reduced to 15,483,356 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 20.7% of the free float of the stock. It takes 9 days to cover the outstanding short positions. The stock has an average daily volume of 1,708,159 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Endologix (NASDAQ:ELGX): The stock opened at $11.95 on Wednesday but the bulls could not build on the opening and the stock topped out at $12.12 for the day. The stock traded down to $11.54 during the day, due to lack of any buying support eventually closed down at $11.55 with a loss of -3.27% for the day. The stock had closed at $11.94 on the previous day. The total traded volume was 638,164 shares.
In a related news, The officer (Chief Technology Officer), of Endologix Inc /De/, Chobotov Michael V. had unloaded 14,000 shares at $12.4 per share in a transaction on August 5, 2016. The total value of transaction was $173,600. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Endologix, Inc. is engaged in developing, manufacturing, marketing and selling medical devices for the treatment of aortic disorders. The Companys products are intended for the treatment of abdominal aortic aneurysms (AAA). The AAA products are built on one of two platforms: traditional minimally invasive endovascular repair (EVAR) or endovascular sealing (EVAS), its solution for sealing the aneurysm sac while maintaining blood flow through two blood flow lumens. The EVAR products include the Endologix AFX Endovascular AAA System (AFX) and the Endologix Powerlink with Intuitrak Delivery System (Intuitrak). The Companys EVAS product is based on the Nellix platform to seal the aneurysm and provide blood flow to the legs through two blood lumens.