T2 Biosystems Inc. (TTOO) Stock Price Up 7%
T2 Biosystems Inc. (NASDAQ:TTOO)’s share price rose 7% during mid-day trading on Wednesday . The stock traded as high as $5.40 and last traded at $5.33, with a volume of 467,391 shares changing hands. The stock had previously closed at $4.98.
TTOO has been the topic of several recent research reports. WBB Securities upgraded T2 Biosystems from a “speculative buy” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Wednesday, June 22nd. Cantor Fitzgerald restated a “buy” rating and issued a $15.00 price target on shares of T2 Biosystems in a research report on Tuesday, June 21st. Canaccord Genuity restated a “buy” rating on shares of T2 Biosystems in a research report on Tuesday, May 3rd. Leerink Swann restated a “buy” rating on shares of T2 Biosystems in a research report on Monday, May 2nd. Finally, Zacks Investment Research upgraded T2 Biosystems from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research report on Tuesday, July 5th. 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 stock presently has a consensus rating of “Hold” and a consensus price target of $11.03.
The stock’s market cap is $131.62 million. The company has a 50 day moving average of $7.80 and a 200 day moving average of $8.68.
T2 Biosystems (NASDAQ:TTOO) last released its earnings results on Monday, May 2nd. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.54) by $0.01. During the same period in the prior year, the firm earned ($0.53) EPS. The firm earned $1.10 million during the quarter. The business’s revenue for the quarter was up 485.1% on a year-over-year basis. On average, equities research analysts expect that T2 Biosystems Inc. will post ($2.17) earnings per share for the current fiscal year.
In related news, SVP Rahul Dhanda sold 3,589 shares of T2 Biosystems stock in a transaction that occurred 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 transaction, the senior vice president now owns 3,589 shares in the company, valued at $29,286.24. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
A hedge fund recently raised its stake in T2 Biosystems stock. Aisling Capital LLC raised 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 accounts for 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 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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