T2 Biosystems Inc. (TTOO) Shares Up 5.1%
T2 Biosystems Inc. (NASDAQ:TTOO) shot up 5.1% during mid-day trading on Wednesday . The company traded as high as $5.54 and last traded at $5.53, with a volume of 82,607 shares trading hands. The stock had previously closed at $5.26.
A number of research firms have recently issued reports on TTOO. Leerink Swann reiterated a “buy” rating on shares of T2 Biosystems in a research note on Monday, May 2nd. Janney Montgomery Scott reiterated a “hold” rating on shares of T2 Biosystems in a research note on Saturday, July 9th. Cantor Fitzgerald reiterated a “buy” rating on shares of T2 Biosystems in a research note on Saturday, July 9th. Morgan Stanley reissued a “hold” rating on shares of T2 Biosystems in a report on Monday, May 2nd. Finally, Canaccord Genuity reissued a “buy” rating on shares of T2 Biosystems in a report on Sunday, May 29th. Two research 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 stock. T2 Biosystems currently has an average rating of “Hold” and a consensus price target of $11.03.
The stock’s market cap is $138.42 million. The company has a 50-day moving average price of $7.09 and a 200-day moving average price of $8.46.
T2 Biosystems (NASDAQ:TTOO) last posted its earnings results on Monday, May 2nd. The company reported ($0.55) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by $0.01. The business earned $1.10 million during the quarter. The company’s quarterly revenue was up 485.1% compared to the same quarter last year. During the same quarter last year, the company earned ($0.53) EPS. 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.
An institutional investor recently raised its position in T2 Biosystems stock. Aisling Capital LLC raised its position in 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 fund 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 holdings, 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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