T2 Biosystems, Inc. (NASDAQ:TTOO – Get Rating) was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 14,500,000 shares, an increase of 61.6% from the June 30th total of 8,970,000 shares. Based on an average daily trading volume, of 6,750,000 shares, the short-interest ratio is currently 2.1 days.
T2 Biosystems Price Performance
TTOO stock opened at $0.12 on Friday. The company has a market cap of $20.63 million, a price-to-earnings ratio of -0.37 and a beta of 0.63. T2 Biosystems has a 12 month low of $0.12 and a 12 month high of $1.23. The company has a fifty day moving average price of $0.17 and a 200 day moving average price of $0.32.
Get T2 Biosystems alerts:T2 Biosystems (NASDAQ:TTOO – Get Rating) last announced its quarterly earnings data on Thursday, May 5th. The medical equipment provider reported ($0.10) EPS for the quarter. The business had revenue of $7.23 million for the quarter.
Hedge Funds Weigh In On T2 Biosystems
A number of large investors have recently bought and sold shares of the company. State Street Corp raised its position in T2 Biosystems by 11.4% during the 1st quarter. State Street Corp now owns 646,500 shares of the medical equipment provider's stock worth $339,000 after buying an additional 66,052 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of T2 Biosystems by 33.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 119,510 shares of the medical equipment provider's stock valued at $62,000 after purchasing an additional 30,000 shares in the last quarter. HNP Capital LLC purchased a new position in shares of T2 Biosystems in the 1st quarter valued at about $43,000. Gagnon Securities LLC increased its holdings in shares of T2 Biosystems by 47.7% in the 4th quarter. Gagnon Securities LLC now owns 760,610 shares of the medical equipment provider's stock valued at $393,000 after purchasing an additional 245,792 shares in the last quarter. Finally, Avantax Planning Partners Inc. increased its holdings in shares of T2 Biosystems by 173.8% in the 4th quarter. Avantax Planning Partners Inc. now owns 110,273 shares of the medical equipment provider's stock valued at $57,000 after purchasing an additional 70,000 shares in the last quarter. Hedge funds and other institutional investors own 11.23% of the company's stock.Analysts Set New Price Targets
TTOO has been the subject of several research analyst reports. Alliance Global Partners cut shares of T2 Biosystems from a "buy" rating to a "neutral" rating in a report on Thursday, July 7th. BTIG Research downgraded shares of T2 Biosystems from a "buy" rating to a "neutral" rating in a research report on Thursday, July 7th. Finally, StockNews.com began coverage on shares of T2 Biosystems in a research report on Sunday, July 24th. They issued a "hold" rating for the company.
T2 Biosystems Company Profile
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T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States and internationally. Its technology enables detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, cerebral spinal fluid, and urine.
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