Levin Capital Strategies L.P. Acquires 55,000 Shares of T2 Biosystems, Inc. (NASDAQ:TTOO)

Levin Capital Strategies L.P. boosted its position in T2 Biosystems, Inc. (NASDAQ:TTOO) by 70.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 133,451 shares of the medical equipment provider’s stock after buying an additional 55,000 shares during the quarter. Levin Capital Strategies L.P. owned approximately 0.09% of T2 Biosystems worth $159,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC increased its holdings in shares of T2 Biosystems by 103.9% during the 1st quarter. Millennium Management LLC now owns 2,683,685 shares of the medical equipment provider’s stock worth $4,348,000 after acquiring an additional 1,367,695 shares during the last quarter. BlackRock Inc. lifted its position in shares of T2 Biosystems by 36.3% during the 1st quarter. BlackRock Inc. now owns 3,005,325 shares of the medical equipment provider’s stock valued at $4,868,000 after acquiring an additional 800,971 shares during the period. Renaissance Technologies LLC bought a new stake in shares of T2 Biosystems during the 1st quarter valued at $1,098,000. Geode Capital Management LLC lifted its position in shares of T2 Biosystems by 35.4% during the 1st quarter. Geode Capital Management LLC now owns 1,298,856 shares of the medical equipment provider’s stock valued at $2,104,000 after acquiring an additional 339,748 shares during the period. Finally, HRT Financial LP raised its holdings in shares of T2 Biosystems by 121.4% during the 1st quarter. HRT Financial LP now owns 418,789 shares of the medical equipment provider’s stock worth $678,000 after buying an additional 229,641 shares in the last quarter. 16.83% of the stock is currently owned by institutional investors and hedge funds.

T2 Biosystems stock opened at $0.95 on Wednesday. The firm has a market capitalization of $157.55 million, a P/E ratio of -3.17 and a beta of 0.28. T2 Biosystems, Inc. has a one year low of $0.85 and a one year high of $3.79. The business has a fifty day moving average price of $1.00 and a 200-day moving average price of $1.23. The company has a debt-to-equity ratio of 5.16, a current ratio of 6.83 and a quick ratio of 6.32.

T2 Biosystems (NASDAQ:TTOO) last posted its quarterly earnings data on Thursday, August 5th. The medical equipment provider reported ($0.08) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.08). The company had revenue of $6.69 million during the quarter, compared to analyst estimates of $5.97 million. T2 Biosystems had a negative return on equity of 510.02% and a negative net margin of 166.02%. Sell-side analysts expect that T2 Biosystems, Inc. will post -0.3 earnings per share for the current fiscal year.

Separately, Zacks Investment Research raised T2 Biosystems from a “hold” rating to a “buy” rating and set a $1.25 price target for the company in a report on Friday, September 17th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $2.57.

About T2 Biosystems

T2 Biosystems, Inc engages in the development of proprietary technology platform. It offers the T2 Magnetic Resonance technology, which enables detection of pathogens, biomarkers, and other abnormalities in a range of unpurified patient sample types. The firm’s products include the T2Dx Instrument, the T2Candida Panel, the T2Bacteria Panel, the T2Resistance Panel, and the T2SARS-CoV-2 Panel.

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

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