T2 Biosystems (TTOO) Shares Down 5.2%
T2 Biosystems Inc (NASDAQ:TTOO) shares dropped 5.2% during trading on Friday . The stock traded as low as $4.50 and last traded at $4.74. Approximately 920,958 shares traded hands during trading, an increase of 65% from the average daily volume of 557,169 shares. The stock had previously closed at $5.00.
TTOO has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and set a $14.00 price objective on shares of T2 Biosystems in a research report on Monday, October 8th. ValuEngine downgraded shares of T2 Biosystems from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 21st. Cantor Fitzgerald set a $11.00 price objective on shares of T2 Biosystems and gave the company a “buy” rating in a research report on Wednesday, September 26th. Zacks Investment Research upgraded shares of T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Finally, BidaskClub downgraded shares of T2 Biosystems from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. T2 Biosystems has a consensus rating of “Hold” and an average target price of $8.64.
The company has a current ratio of 7.31, a quick ratio of 7.10 and a debt-to-equity ratio of 1.22.
In other news, insider Thomas J. Lowery sold 138,144 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $6.18, for a total transaction of $853,729.92. Following the completion of the transaction, the insider now directly owns 57,873 shares in the company, valued at $357,655.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 31.50% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Raymond James & Associates acquired a new position in shares of T2 Biosystems during the second quarter worth $100,000. Staley Capital Advisers Inc. acquired a new position in shares of T2 Biosystems during the second quarter worth $116,000. Zacks Investment Management acquired a new position in shares of T2 Biosystems during the second quarter worth $124,000. Thompson Davis & CO. Inc. acquired a new position in shares of T2 Biosystems during the second quarter worth $127,000. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of T2 Biosystems during the second quarter worth $132,000. Institutional investors own 59.12% 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. 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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