T2 Biosystems Inc (NASDAQ:TTOO) shares saw unusually-high trading volume on Wednesday . Approximately 1,862,700 shares changed hands during trading, an increase of 239% from the previous session’s volume of 549,312 shares.The stock last traded at $7.13 and had previously closed at $6.50.

TTOO has been the topic of a number of research reports. Zacks Investment Research downgraded T2 Biosystems from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. BidaskClub downgraded T2 Biosystems from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 24th. Leerink Swann raised T2 Biosystems from a “market perform” rating to an “outperform” rating in a research note on Friday, June 1st. HC Wainwright set a $14.00 price target on T2 Biosystems and gave the stock a “buy” rating in a research note on Friday, August 3rd. Finally, ValuEngine downgraded T2 Biosystems from a “buy” rating to a “hold” rating in a research note on Thursday, September 13th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $8.64.

The company has a quick ratio of 7.10, a current ratio of 7.31 and a debt-to-equity ratio of 1.22.

T2 Biosystems (NASDAQ:TTOO) last issued its quarterly earnings data on Thursday, August 2nd. The medical equipment provider reported ($0.32) EPS for the quarter, hitting analysts’ consensus estimates of ($0.32). The firm had revenue of $3.90 million during the quarter, compared to analyst estimates of $2.97 million. T2 Biosystems had a negative return on equity of 556.22% and a negative net margin of 637.62%. The company’s revenue for the quarter was up 307.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.50) EPS. sell-side analysts anticipate that T2 Biosystems Inc will post -1.33 EPS for the current year.

In other T2 Biosystems news, insider Thomas J. Lowery sold 138,144 shares of the business’s stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $6.18, for a total transaction of $853,729.92. Following the completion of the sale, the insider now directly owns 57,873 shares of the company’s stock, valued at approximately $357,655.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 31.50% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in T2 Biosystems by 1,036.1% during the 2nd quarter. BlackRock Inc. now owns 1,825,811 shares of the medical equipment provider’s stock worth $14,131,000 after purchasing an additional 1,665,105 shares in the last quarter. Millennium Management LLC grew its holdings in shares of T2 Biosystems by 310.8% in the second quarter. Millennium Management LLC now owns 1,176,522 shares of the medical equipment provider’s stock valued at $9,106,000 after acquiring an additional 890,097 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of T2 Biosystems by 382.7% in the second quarter. Renaissance Technologies LLC now owns 821,500 shares of the medical equipment provider’s stock valued at $6,358,000 after acquiring an additional 651,300 shares in the last quarter. Ardsley Advisory Partners bought a new position in shares of T2 Biosystems in the second quarter valued at approximately $5,844,000. Finally, Essex Investment Management Co. LLC grew its holdings in shares of T2 Biosystems by 3.1% in the second quarter. Essex Investment Management Co. LLC now owns 679,200 shares of the medical equipment provider’s stock valued at $5,257,000 after acquiring an additional 20,331 shares in the last quarter. 59.12% of the stock is owned by hedge funds and other institutional investors.

T2 Biosystems Company Profile (NASDAQ:TTOO)

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