T2 Biosystems, Inc. (NASDAQ:TTOO) General Counsel Michael Terrence Gibbs Sells 7,280 Shares

T2 Biosystems, Inc. (NASDAQ:TTOO) General Counsel Michael Terrence Gibbs sold 7,280 shares of T2 Biosystems stock in a transaction on Tuesday, February 23rd. The shares were sold at an average price of $2.06, for a total transaction of $14,996.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ:TTOO traded down $0.30 during midday trading on Tuesday, reaching $2.22. The company’s stock had a trading volume of 268,886 shares, compared to its average volume of 18,414,072. The firm has a market capitalization of $328.46 million, a PE ratio of -3.32 and a beta of 0.72. T2 Biosystems, Inc. has a twelve month low of $0.23 and a twelve month high of $3.79. The stock has a fifty day moving average of $2.31 and a 200 day moving average of $1.55. The company has a quick ratio of 4.63, a current ratio of 4.97 and a debt-to-equity ratio of 2.54.

A number of analysts have recently weighed in on TTOO shares. SVB Leerink reduced their target price on shares of T2 Biosystems from $4.00 to $3.00 and set an “outperform” rating on the stock in a report on Wednesday, January 27th. Canaccord Genuity reissued a “buy” rating and issued a $3.50 price objective on shares of T2 Biosystems in a research report on Tuesday, January 26th. Jonestrading reaffirmed a “buy” rating and issued a $3.50 price target on shares of T2 Biosystems in a research report on Wednesday, January 27th. Finally, Alliance Global Partners cut shares of T2 Biosystems from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $2.60 to $2.40 in a research report on Wednesday, January 27th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. T2 Biosystems has a consensus rating of “Buy” and an average target price of $2.57.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in T2 Biosystems by 34.6% during the third quarter. BlackRock Inc. now owns 2,203,844 shares of the medical equipment provider’s stock worth $2,998,000 after buying an additional 566,115 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in T2 Biosystems during the fourth quarter worth $686,000. Squarepoint Ops LLC boosted its holdings in T2 Biosystems by 63.1% during the third quarter. Squarepoint Ops LLC now owns 499,629 shares of the medical equipment provider’s stock worth $679,000 after buying an additional 193,283 shares in the last quarter. Northern Trust Corp lifted its holdings in T2 Biosystems by 11.6% during the fourth quarter. Northern Trust Corp now owns 270,535 shares of the medical equipment provider’s stock valued at $335,000 after purchasing an additional 28,182 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. purchased a new position in T2 Biosystems during the third quarter valued at $350,000. Hedge funds and other institutional investors own 12.30% of the company’s stock.

T2 Biosystems Company Profile

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 technology that 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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