T2 Biosystems, Inc. (NASDAQ:TTOO) General Counsel Sells $14,996.80 in Stock


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T2 Biosystems, Inc. (NASDAQ:TTOO) General Counsel Michael Terrence Gibbs sold 7,280 shares of the firm’s stock in a transaction on Tuesday, February 23rd. The shares were sold at an average price of $2.06, for a total value of $14,996.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of TTOO stock traded down $0.30 during mid-day trading on Tuesday, hitting $2.22. The company’s stock had a trading volume of 268,886 shares, compared to its average volume of 18,414,072. The company’s fifty day simple moving average is $2.31 and its 200-day simple moving average is $1.55. T2 Biosystems, Inc. has a 52 week low of $0.23 and a 52 week high of $3.79. The company has a debt-to-equity ratio of 2.54, a quick ratio of 4.63 and a current ratio of 4.97. The company has a market cap of $328.46 million, a PE ratio of -3.32 and a beta of 0.72.

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in T2 Biosystems by 34.6% in the 3rd quarter. BlackRock Inc. now owns 2,203,844 shares of the medical equipment provider’s stock valued at $2,998,000 after buying an additional 566,115 shares in the last quarter. Principal Financial Group Inc. bought a new stake in T2 Biosystems in the 4th quarter valued at about $686,000. Squarepoint Ops LLC increased its position in T2 Biosystems by 63.1% in the 3rd quarter. Squarepoint Ops LLC now owns 499,629 shares of the medical equipment provider’s stock valued at $679,000 after buying an additional 193,283 shares in the last quarter. Northern Trust Corp increased its position in T2 Biosystems by 11.6% in the 4th quarter. Northern Trust Corp now owns 270,535 shares of the medical equipment provider’s stock valued at $335,000 after buying an additional 28,182 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. bought a new stake in T2 Biosystems in the 3rd quarter valued at about $350,000. 12.30% of the stock is owned by hedge funds and other institutional investors.

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

About T2 Biosystems

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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