T2 Biosystems, Inc. (NASDAQ:TTOO) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totalling 1,304,854 shares, a growth of 23.4% from the July 14th total of 1,057,432 shares. Currently, 7.6% of the company’s shares are sold short. Based on an average daily volume of 290,949 shares, the short-interest ratio is currently 4.5 days.

TTOO has been the topic of several recent research reports. BTIG Research upgraded T2 Biosystems from a “sell” rating to a “neutral” rating and set a $4.00 price target on the stock in a research report on Monday, May 8th. Zacks Investment Research lowered T2 Biosystems from a “hold” rating to a “sell” rating in a report on Wednesday, July 5th. Finally, Cantor Fitzgerald reduced their target price on T2 Biosystems from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $6.75.

T2 Biosystems (NASDAQ:TTOO) opened at 3.27 on Friday. The firm’s 50-day moving average price is $2.94 and its 200 day moving average price is $4.35. The company’s market capitalization is $100.60 million. T2 Biosystems has a 12-month low of $2.50 and a 12-month high of $8.04.

T2 Biosystems (NASDAQ:TTOO) last posted its quarterly earnings data on Thursday, August 3rd. The medical equipment provider reported ($0.50) EPS for the quarter, missing the consensus estimate of ($0.49) by $0.01. T2 Biosystems had a negative return on equity of 178.83% and a negative net margin of 1,473.71%. The business had revenue of $0.96 million for the quarter, compared to the consensus estimate of $0.79 million. On average, analysts expect that T2 Biosystems will post ($1.93) earnings per share for the current year.

In related news, Director David B. Elsbree purchased 10,000 shares of T2 Biosystems stock in a transaction dated Tuesday, June 6th. The shares were acquired at an average cost of $3.50 per share, for a total transaction of $35,000.00. Following the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $175,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders bought a total of 20,000 shares of company stock worth $70,330 over the last 90 days. 38.70% of the stock is owned by corporate insiders.

Large investors have recently bought and sold shares of the company. LMR Partners LLP acquired a new stake in T2 Biosystems during the second quarter valued at approximately $180,000. Bank of New York Mellon Corp raised its stake in T2 Biosystems by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 56,415 shares of the medical equipment provider’s stock valued at $297,000 after buying an additional 201 shares during the last quarter. Essex Investment Management Co. LLC raised its stake in T2 Biosystems by 221.8% in the second quarter. Essex Investment Management Co. LLC now owns 208,190 shares of the medical equipment provider’s stock valued at $668,000 after buying an additional 143,495 shares during the last quarter. Finally, Senvest Management LLC raised its stake in T2 Biosystems by 15.2% in the second quarter. Senvest Management LLC now owns 2,837,946 shares of the medical equipment provider’s stock valued at $9,110,000 after buying an additional 373,876 shares during the last quarter. 67.13% of the stock is currently owned by institutional investors and hedge funds.

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T2 Biosystems Company Profile

T2 Biosystems, Inc is an in vitro diagnostics company engaged in developing a technology platform offering an alternative to diagnostic methodologies. The Company’s T2 Magnetic Resonance platform (T2MR) enables detection of pathogens, biomarkers and other abnormalities in a range of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as one colony forming unit per milliliter (CFU/mL).

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