T2 Biosystems Inc. (TTOO) Shares Up 4.8%
T2 Biosystems Inc. (NASDAQ:TTOO) was 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. The stock had previously closed at $6.68.
TTOO has been the topic of a number of research analyst reports. Zacks Investment Research downgraded T2 Biosystems from a “hold” rating to a “sell” rating in a report on Tuesday, April 19th. Canaccord Genuity reaffirmed a “buy” rating on shares of T2 Biosystems in a report on Tuesday, May 3rd. Cantor Fitzgerald reaffirmed a “buy” rating on shares of T2 Biosystems in a report on Tuesday, May 3rd. Morgan Stanley reaffirmed a “hold” rating on shares of T2 Biosystems in a report on Monday, May 2nd. Finally, Leerink Swann reaffirmed a “buy” rating on shares of T2 Biosystems in a report on Monday, May 2nd. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $10.65.
The firm’s 50 day moving average is $6.47 and its 200-day moving average is $8.29. The stock’s market cap is $174.93 million.
T2 Biosystems (NASDAQ:TTOO) last posted its quarterly earnings results on Monday, August 1st. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by $0.02. During the same quarter in the previous year, the business earned ($0.54) earnings per share. The company had revenue of $0.99 million for the quarter, compared to the consensus estimate of $1.53 million. The company’s revenue for the quarter was up 75.5% compared to the same quarter last year. On average, analysts forecast that T2 Biosystems Inc. will post ($2.20) earnings per share for the current year.
In other T2 Biosystems news, SVP Rahul Dhanda sold 3,589 shares of the business’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $8.16, for a total transaction of $29,286.24. Following the sale, the senior vice president now owns 3,589 shares of the company’s stock, valued at approximately $29,286.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
An institutional investor recently raised its position in T2 Biosystems stock. Aisling Capital LLC raised its position in shares of T2 Biosystems Inc. (NASDAQ:TTOO) by 12.2% during the fourth quarter, according to its most recent filing 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 about 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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