Gagnon Securities LLC bought a new stake in T2 Biosystems Inc (NASDAQ:TTOO) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 94,231 shares of the medical equipment provider’s stock, valued at approximately $396,000. Gagnon Securities LLC owned about 0.26% of T2 Biosystems as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LMR Partners LLP purchased a new stake in T2 Biosystems in the second quarter valued at approximately $180,000. Susquehanna International Group LLP lifted its holdings in T2 Biosystems by 931.3% in the second quarter. Susquehanna International Group LLP now owns 85,620 shares of the medical equipment provider’s stock valued at $275,000 after acquiring an additional 95,920 shares during the period. Essex Investment Management Co. LLC lifted its holdings in T2 Biosystems by 239.2% in the third quarter. Essex Investment Management Co. LLC now owns 706,194 shares of the medical equipment provider’s stock valued at $2,966,000 after acquiring an additional 498,004 shares during the period. Lagoda Investment Management L.P. lifted its holdings in T2 Biosystems by 15.4% in the second quarter. Lagoda Investment Management L.P. now owns 1,975,921 shares of the medical equipment provider’s stock valued at $6,343,000 after acquiring an additional 264,337 shares during the period. Finally, Senvest Management LLC lifted its holdings in T2 Biosystems by 15.2% in the second quarter. Senvest Management LLC now owns 2,837,946 shares of the medical equipment provider’s stock valued at $9,110,000 after acquiring an additional 373,876 shares during the period. Hedge funds and other institutional investors own 59.77% of the company’s stock.

T2 Biosystems Inc (TTOO) opened at $4.00 on Friday. The company has a current ratio of 5.40, a quick ratio of 5.28 and a debt-to-equity ratio of 2.25. T2 Biosystems Inc has a 52 week low of $2.50 and a 52 week high of $6.99.

T2 Biosystems (NASDAQ:TTOO) last announced its earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.45) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.49) by $0.04. The business had revenue of $1.11 million during the quarter, compared to the consensus estimate of $1.10 million. T2 Biosystems had a negative return on equity of 244.82% and a negative net margin of 1,497.70%. T2 Biosystems’s revenue was up 2.8% on a year-over-year basis. equities analysts predict that T2 Biosystems Inc will post -1.85 earnings per share for the current fiscal year.

A number of research analysts have issued reports on the company. Zacks Investment Research raised T2 Biosystems from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. ValuEngine raised T2 Biosystems from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 13th. Canaccord Genuity reissued a “buy” rating and issued a $6.00 price target on shares of T2 Biosystems in a report on Monday, October 30th. Finally, HC Wainwright assumed coverage on T2 Biosystems in a report on Wednesday, October 18th. They issued a “buy” rating and a $8.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $6.54.

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T2 Biosystems Profile

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).

Institutional Ownership by Quarter for T2 Biosystems (NASDAQ:TTOO)

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