T2 Biosystems (TTOO) Stock Price Down 12.7%

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T2 Biosystems Inc (NASDAQ:TTOO) fell 12.7% during mid-day trading on Thursday . The company traded as low as $3.44 and last traded at $3.45. 619,441 shares changed hands during mid-day trading, an increase of 134% from the average session volume of 264,171 shares. The stock had previously closed at $3.95.

A number of research firms have issued reports on TTOO. Zacks Investment Research upgraded shares of T2 Biosystems from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a research report on Thursday, November 8th. ValuEngine downgraded shares of T2 Biosystems from a “buy” rating to a “hold” rating in a research report on Wednesday, January 2nd. Cantor Fitzgerald set a $11.00 target price on shares of T2 Biosystems and gave the stock a “buy” rating in a research report on Friday, November 2nd. HC Wainwright set a $14.00 target price on shares of T2 Biosystems and gave the stock a “buy” rating in a research report on Friday, November 2nd. Finally, Goldman Sachs Group set a $5.00 target price on shares of T2 Biosystems and gave the stock a “hold” rating in a research report on Friday, November 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $8.94.

The company has a debt-to-equity ratio of 1.66, a current ratio of 7.16 and a quick ratio of 6.81.

In other news, CEO John Mcdonough sold 14,338 shares of the firm’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $3.43, for a total transaction of $49,179.34. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 23,448 shares of company stock worth $80,427 in the last 90 days. 31.50% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new position in shares of T2 Biosystems during the 3rd quarter valued at $242,000. Creative Planning acquired a new position in T2 Biosystems in the 3rd quarter valued at $112,000. Virtu Financial LLC acquired a new position in T2 Biosystems in the 4th quarter valued at $107,000. Northern Trust Corp grew its stake in T2 Biosystems by 474.7% in the 2nd quarter. Northern Trust Corp now owns 312,079 shares of the medical equipment provider’s stock valued at $2,416,000 after buying an additional 257,772 shares during the last quarter. Finally, Bell Rock Capital LLC grew its stake in T2 Biosystems by 10.4% in the 4th quarter. Bell Rock Capital LLC now owns 322,135 shares of the medical equipment provider’s stock valued at $971,000 after buying an additional 30,300 shares during the last quarter. Institutional investors and hedge funds own 54.65% of the company’s stock.

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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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