T2 Biosystems Inc. (TTOO) Trading Up 8%
Shares of T2 Biosystems Inc. (NASDAQ:TTOO) were up 8% during mid-day trading on Thursday . The stock traded as high as $6.64 and last traded at $6.63, with a volume of 128,608 shares. The stock had previously closed at $6.14.
Several analysts have recently issued reports on TTOO shares. WBB Securities raised T2 Biosystems from a “speculative buy” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Wednesday, June 22nd. Cantor Fitzgerald reaffirmed a “buy” rating and set a $15.00 price objective on shares of T2 Biosystems in a report on Tuesday, June 21st. Canaccord Genuity reaffirmed a “buy” rating on shares of T2 Biosystems in a report on Tuesday, May 3rd. Leerink Swann reaffirmed a “buy” rating on shares of T2 Biosystems in a report on Monday, May 2nd. Finally, Zacks Investment Research raised T2 Biosystems from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a report on Tuesday, July 5th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. T2 Biosystems has an average rating of “Hold” and a consensus price target of $10.65.
The company’s market cap is $165.41 million. The firm’s 50 day moving average is $6.81 and its 200-day moving average is $8.38.
T2 Biosystems (NASDAQ:TTOO) last released its earnings results on Monday, August 1st. The company reported ($0.58) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by $0.02. The company earned $0.99 million during the quarter, compared to analysts’ expectations of $1.53 million. During the same period last year, the firm earned ($0.54) earnings per share. T2 Biosystems’s quarterly revenue was up 75.5% compared to the same quarter last year. Equities research analysts forecast that T2 Biosystems Inc. will post ($2.21) earnings per share for the current fiscal year.
In related news, SVP Rahul Dhanda sold 3,589 shares of the business’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $8.16, for a total transaction of $29,286.24. Following the completion of the transaction, the senior vice president now directly owns 3,589 shares of the company’s stock, valued at approximately $29,286.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
A hedge fund recently raised its stake in T2 Biosystems stock. Aisling Capital LLC increased its stake in T2 Biosystems Inc. (NASDAQ:TTOO) by 12.2% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,830,992 shares of the company’s stock after buying an additional 307,692 shares during the period. T2 Biosystems comprises about 5.3% of Aisling Capital LLC’s portfolio, making the stock its 6th largest position. Aisling Capital LLC owned 13.89% of T2 Biosystems worth $30,971,000 at the end of the most recent quarter.
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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