T2 Biosystems Inc (NASDAQ:TTOO) Director Stanley Lapidus sold 6,048 shares of T2 Biosystems stock in a transaction that occurred on Tuesday, November 6th. The stock was sold at an average price of $5.29, for a total value of $31,993.92. Following the completion of the transaction, the director now owns 59,058 shares of the company’s stock, valued at approximately $312,416.82. The sale was disclosed in a document filed with the SEC, which is available at this link.

Shares of NASDAQ TTOO opened at $5.08 on Friday. T2 Biosystems Inc has a 12-month low of $3.75 and a 12-month high of $9.98. The company has a debt-to-equity ratio of 1.66, a quick ratio of 6.81 and a current ratio of 7.16.

T2 Biosystems (NASDAQ:TTOO) last announced its quarterly earnings results on Thursday, November 1st. The medical equipment provider reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.33) by $0.08. The business had revenue of $2.50 million for the quarter, compared to the consensus estimate of $2.44 million. T2 Biosystems had a negative return on equity of 461.31% and a negative net margin of 522.30%. The business’s revenue was up 127.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.45) EPS. On average, equities analysts anticipate that T2 Biosystems Inc will post -1.26 earnings per share for the current fiscal year.

Several brokerages have recently commented on TTOO. Zacks Investment Research upgraded 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. HC Wainwright set a $14.00 target price on T2 Biosystems and gave the stock a “buy” rating in a research report on Friday, November 2nd. Cantor Fitzgerald set a $11.00 target price on T2 Biosystems and gave the stock a “buy” rating in a research report on Friday, November 2nd. BidaskClub lowered T2 Biosystems from a “sell” rating to a “strong sell” rating in a research report on Friday, October 12th. Finally, ValuEngine downgraded T2 Biosystems from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. T2 Biosystems has an average rating of “Buy” and a consensus target price of $8.99.

Several hedge funds and other institutional investors have recently made changes to their positions in TTOO. JPMorgan Chase & Co. increased its position in T2 Biosystems by 8,321.5% during the first quarter. JPMorgan Chase & Co. now owns 137,271 shares of the medical equipment provider’s stock valued at $891,000 after acquiring an additional 135,641 shares during the last quarter. UBS Group AG grew its holdings in shares of T2 Biosystems by 635.8% in the first quarter. UBS Group AG now owns 41,756 shares of the medical equipment provider’s stock worth $271,000 after purchasing an additional 36,081 shares during the last quarter. Millennium Management LLC grew its holdings in shares of T2 Biosystems by 109.2% in the first quarter. Millennium Management LLC now owns 286,425 shares of the medical equipment provider’s stock worth $1,859,000 after purchasing an additional 149,496 shares during the last quarter. 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 worth $5,257,000 after purchasing an additional 20,331 shares during the last quarter. Finally, Fred Alger Management Inc. bought a new position in shares of T2 Biosystems in the second quarter worth about $813,000. 59.01% of the stock is currently owned by institutional investors and hedge funds.

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T2 Biosystems Company Profile

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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