T2 Biosystems (TTOO) Trading 0.9% Higher
T2 Biosystems Inc (NASDAQ:TTOO) shares traded up 0.9% during mid-day trading on Monday . The stock traded as high as $9.65 and last traded at $9.62. 34,517 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 1,220,257 shares. The stock had previously closed at $9.53.
Several research analysts have issued reports on the stock. Leerink Swann upgraded shares of T2 Biosystems from a “market perform” rating to an “outperform” rating in a research report on Friday, June 1st. Zacks Investment Research upgraded shares of T2 Biosystems from a “hold” rating to a “buy” rating and set a $7.25 price target on the stock in a research report on Thursday, March 22nd. BidaskClub lowered shares of T2 Biosystems from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. HC Wainwright set a $9.00 price target on shares of T2 Biosystems and gave the stock a “buy” rating in a research report on Wednesday, May 9th. Finally, Janney Montgomery Scott raised shares of T2 Biosystems from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $8.05.
The company has a quick ratio of 0.61, a current ratio of 0.65 and a debt-to-equity ratio of -0.13.
In other T2 Biosystems news, Director Stanley Lapidus sold 6,000 shares of T2 Biosystems stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $8.87, for a total transaction of $53,220.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David B. Elsbree bought 4,225 shares of the firm’s stock in a transaction on Friday, June 1st. The shares were bought at an average cost of $7.65 per share, with a total value of $32,321.25. The disclosure for this purchase can be found here. Company insiders own 31.50% of the company’s stock.
Several large investors have recently modified their holdings of TTOO. Geode Capital Management LLC boosted its stake in shares of T2 Biosystems by 41.9% during the 4th quarter. Geode Capital Management LLC now owns 134,470 shares of the medical equipment provider’s stock valued at $554,000 after buying an additional 39,722 shares during the period. Renaissance Technologies LLC boosted its stake in shares of T2 Biosystems by 72.2% during the 4th quarter. Renaissance Technologies LLC now owns 83,500 shares of the medical equipment provider’s stock valued at $344,000 after buying an additional 35,000 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of T2 Biosystems by 8,321.5% during the 1st quarter. JPMorgan Chase & Co. now owns 137,271 shares of the medical equipment provider’s stock valued at $891,000 after buying an additional 135,641 shares during the period. Sandia Holdings LLC acquired a new stake in shares of T2 Biosystems during the 1st quarter valued at $3,532,000. Finally, Tibra Equities Europe Ltd acquired a new stake in shares of T2 Biosystems during the 1st quarter valued at $338,000. 43.61% of the stock is owned by institutional investors.
About T2 Biosystems
T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States. It provides T2 Magnetic Resonance platform that enables detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, and urine.
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