T2 Biosystems Inc. (TTOO) Trading 8% Higher
T2 Biosystems Inc. (NASDAQ:TTOO)’s share price traded up 8% during 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 equities analysts recently commented on the company. Janney Montgomery Scott lowered T2 Biosystems from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 12th. Canaccord Genuity reduced their price target on T2 Biosystems from $13.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, April 12th. Zacks Investment Research lowered T2 Biosystems from a “hold” rating to a “sell” rating in a research report on Tuesday, April 19th. Cantor Fitzgerald reissued a “buy” rating on shares of T2 Biosystems in a research report on Tuesday, May 3rd. Finally, Leerink Swann reissued a “buy” rating on shares of T2 Biosystems in a research report on Monday, May 2nd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, three have given 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 $10.65.
The firm’s 50 day moving average price is $6.72 and its 200 day moving average price is $8.36. The stock’s market capitalization is $182.22 million.
T2 Biosystems (NASDAQ:TTOO) last issued 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 quarter in the prior year, the firm posted ($0.54) earnings per share. The business earned $0.99 million during the quarter, compared to the consensus estimate of $1.53 million. T2 Biosystems’s revenue was up 75.5% on a year-over-year basis. Analysts predict that T2 Biosystems Inc. will post ($2.21) earnings per share for the current fiscal year.
In other T2 Biosystems news, SVP Rahul Dhanda sold 3,589 shares of the company’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $8.16, for a total value of $29,286.24. Following the transaction, the senior vice president now directly 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 SEC, which is accessible through 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 Securities and Exchange Commission. The fund owned 2,830,992 shares of the company’s stock after buying an additional 307,692 shares during the period. T2 Biosystems makes up 5.3% of Aisling Capital LLC’s holdings, making the stock its 6th largest position. Aisling Capital LLC owned about 13.89% of T2 Biosystems worth $30,971,000 as of its most recent filing with the SEC.
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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