MYDA Advisors LLC acquired a new stake in shares of T2 Biosystems Inc (NASDAQ:TTOO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 20,308 shares of the medical equipment provider’s stock, valued at approximately $157,000.
Other large investors have also made changes to their positions in the company. Levin Capital Strategies L.P. bought a new stake in shares of T2 Biosystems during the 2nd quarter valued at about $698,000. UBS Group AG grew its position in shares of T2 Biosystems by 635.8% during the 1st quarter. UBS Group AG now owns 41,756 shares of the medical equipment provider’s stock valued at $271,000 after buying an additional 36,081 shares during the last quarter. Staley Capital Advisers Inc. acquired a new position in T2 Biosystems during the 2nd quarter valued at about $116,000. Sandia Holdings LLC acquired a new position in T2 Biosystems during the 1st quarter valued at about $3,532,000. Finally, Perkins Capital Management Inc. acquired a new position in T2 Biosystems during the 2nd quarter valued at about $581,000. 59.12% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on TTOO shares. ValuEngine lowered shares of T2 Biosystems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 21st. HC Wainwright reissued a “buy” rating and set a $14.00 target price on shares of T2 Biosystems in a research note on Thursday, June 14th. BidaskClub raised shares of T2 Biosystems from a “hold” rating to a “buy” rating in a research note on Thursday, May 24th. Janney Montgomery Scott raised shares of T2 Biosystems from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 9th. Finally, Zacks Investment Research lowered shares of T2 Biosystems from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. One equities research 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’s stock. T2 Biosystems has a consensus rating of “Buy” and a consensus target price of $8.05.
T2 Biosystems stock opened at $6.63 on Wednesday. The company has a debt-to-equity ratio of 1.22, a current ratio of 7.31 and a quick ratio of 7.10. T2 Biosystems Inc has a 52-week low of $3.60 and a 52-week high of $9.98.
T2 Biosystems (NASDAQ:TTOO) last posted its earnings results on Thursday, August 2nd. The medical equipment provider reported ($0.32) earnings per share (EPS) for the quarter, meeting 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 net margin of 637.62% and a negative return on equity of 556.22%. T2 Biosystems’s revenue was up 307.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.50) EPS. equities analysts forecast that T2 Biosystems Inc will post -1.32 EPS for the current fiscal year.
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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