T2 Biosystems (NASDAQ:TTOO) Stock Price Up 30.6%

T2 Biosystems Inc (NASDAQ:TTOO)’s stock price rose 30.6% on Friday . The company traded as high as $0.97 and last traded at $0.94, approximately 4,117,564 shares changed hands during mid-day trading. An increase of 303% from the average daily volume of 1,021,073 shares. The stock had previously closed at $0.72.

TTOO has been the subject of a number of research reports. Zacks Investment Research lowered T2 Biosystems from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Janney Montgomery Scott lowered T2 Biosystems from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st. Cantor Fitzgerald lowered T2 Biosystems from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 31st. HC Wainwright reiterated a “hold” rating on shares of T2 Biosystems in a research report on Wednesday. Finally, Alliance Global Partners lowered T2 Biosystems from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $5.00 to $0.40 in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. T2 Biosystems has a consensus rating of “Hold” and an average price target of $6.19.

The business has a 50-day moving average price of $1.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.58 and a quick ratio of 0.76. The stock has a market cap of $36.47 million, a PE ratio of -0.75 and a beta of 1.61.

T2 Biosystems (NASDAQ:TTOO) last announced its quarterly earnings data on Tuesday, July 30th. The medical equipment provider reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.03). T2 Biosystems had a negative return on equity of 1,263.94% and a negative net margin of 722.70%. The firm had revenue of $1.80 million during the quarter, compared to analyst estimates of $1.95 million. During the same quarter in the previous year, the business earned ($0.32) earnings per share. T2 Biosystems’s revenue for the quarter was down 53.8% compared to the same quarter last year. As a group, analysts predict that T2 Biosystems Inc will post -1.22 EPS for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in T2 Biosystems by 7,546.7% during the second quarter. JPMorgan Chase & Co. now owns 732,400 shares of the medical equipment provider’s stock worth $1,150,000 after purchasing an additional 722,822 shares during the last quarter. Wiley BROS. Aintree Capital LLC lifted its stake in shares of T2 Biosystems by 150.0% in the 2nd quarter. Wiley BROS. Aintree Capital LLC now owns 25,000 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 15,000 shares during the last quarter. Gagnon Securities LLC lifted its stake in shares of T2 Biosystems by 124.3% in the 1st quarter. Gagnon Securities LLC now owns 149,065 shares of the medical equipment provider’s stock valued at $392,000 after acquiring an additional 82,605 shares during the last quarter. Cable Hill Partners LLC lifted its stake in shares of T2 Biosystems by 100.0% in the 1st quarter. Cable Hill Partners LLC now owns 10,000 shares of the medical equipment provider’s stock valued at $26,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Keybank National Association OH lifted its stake in shares of T2 Biosystems by 44.4% in the 1st quarter. Keybank National Association OH now owns 65,000 shares of the medical equipment provider’s stock valued at $171,000 after acquiring an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 46.15% of the company’s stock.

T2 Biosystems Company Profile (NASDAQ:TTOO)

T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States and internationally. 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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