Shares of T2 Biosystems Inc. (NASDAQ:TTOO) shot up 7% on Wednesday . The company traded as high as $5.40 and last traded at $5.33, with a volume of 467,391 shares trading hands. The stock had previously closed at $4.98.

A number of research firms recently weighed in on TTOO. Canaccord Genuity restated a “buy” rating on shares of T2 Biosystems in a research note on Sunday, May 29th. Janney Montgomery Scott restated a “hold” rating on shares of T2 Biosystems in a research note on Saturday, July 9th. Cantor Fitzgerald restated a “buy” rating on shares of T2 Biosystems in a research note on Saturday, July 9th. Leerink Swann restated a “buy” rating on shares of T2 Biosystems in a research note on Sunday, July 10th. Finally, Morgan Stanley restated a “hold” rating on shares of T2 Biosystems in a research note on Monday, May 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $11.03.

The company has a 50-day moving average price of $7.62 and a 200-day moving average price of $8.64. The stock’s market cap is $136.72 million.

T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings data on Monday, May 2nd. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.54) by $0.01. The company earned $1.10 million during the quarter. During the same quarter in the previous year, the business earned ($0.53) earnings per share. The company’s revenue was up 485.1% compared to the same quarter last year. On average, analysts expect that T2 Biosystems Inc. will post ($2.17) earnings per share for the current year.

In other T2 Biosystems news, SVP Rahul Dhanda sold 3,589 shares of the firm’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $8.16, for a total transaction of $29,286.24. Following the transaction, the senior vice president now directly owns 3,589 shares in the company, valued at $29,286.24. The transaction was disclosed in a filing with the SEC, which is available through this link.

A hedge fund recently raised its stake in T2 Biosystems stock. Aisling Capital LLC increased its stake in shares of T2 Biosystems Inc. (NASDAQ:TTOO) by 12.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,830,992 shares of the company’s stock after buying an additional 307,692 shares during the period. T2 Biosystems accounts for 5.3% of Aisling Capital LLC’s holdings, making the stock its 6th largest position. Aisling Capital LLC owned approximately 13.89% of T2 Biosystems worth $30,971,000 at the end of the most recent reporting period.

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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