T2 Biosystems Inc. (TTOO) Trading Up 4.8%
Shares of T2 Biosystems Inc. (NASDAQ:TTOO) were up 4.8% during mid-day trading on Thursday . The company traded as high as $7.00 and last traded at $7.00, with a volume of 55,098 shares changing hands. The stock had previously closed at $6.68.
A number of brokerages have recently weighed in on TTOO. WBB Securities raised shares of T2 Biosystems from a “buy” rating to a “strong-buy” rating and upped their price target for the stock from $11.00 to $12.00 in a report on Wednesday, July 20th. BTIG Research downgraded shares of T2 Biosystems from a “buy” rating to a “sell” rating and cut their price target for the stock from $12.00 to $4.00 in a report on Friday, July 8th. Canaccord Genuity cut their price target on shares of T2 Biosystems from $10.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, August 2nd. Zacks Investment Research downgraded shares of T2 Biosystems from a “hold” rating to a “sell” rating in a report on Wednesday, July 27th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and set a $15.00 price target on shares of T2 Biosystems in a report on Tuesday, June 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $10.65.
The stock has a 50-day moving average price of $6.53 and a 200-day moving average price of $8.31. The company’s market capitalization is $171.50 million.
T2 Biosystems (NASDAQ:TTOO) last posted its earnings results on Monday, August 1st. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.56) by $0.02. During the same period last year, the firm earned ($0.54) EPS. The firm had revenue of $0.99 million for the quarter, compared to analysts’ expectations of $1.53 million. The firm’s quarterly revenue was up 75.5% on a year-over-year basis. On average, equities analysts anticipate that T2 Biosystems Inc. will post ($2.20) earnings per share for the current year.
In other news, SVP Rahul Dhanda sold 3,589 shares of T2 Biosystems stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $8.16, for a total value of $29,286.24. Following the completion of the transaction, the senior vice president now owns 3,589 shares in the company, valued at $29,286.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
A hedge fund recently raised its stake in T2 Biosystems stock. Aisling Capital LLC boosted its position in shares of T2 Biosystems Inc. (NASDAQ:TTOO) by 12.2% during the fourth quarter, according to its most recent Form 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 investment portfolio, making the stock its 6th largest position. Aisling Capital LLC owned about 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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