ClariVest Asset Management LLC bought a new stake in shares of T2 Biosystems Inc (NASDAQ:TTOO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 130,663 shares of the medical equipment provider’s stock, valued at approximately $1,010,000. ClariVest Asset Management LLC owned 0.30% of T2 Biosystems as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its stake in shares of T2 Biosystems by 1,036.1% during the second quarter. BlackRock Inc. now owns 1,825,811 shares of the medical equipment provider’s stock valued at $14,131,000 after buying an additional 1,665,105 shares during the period. Essex Investment Management Co. LLC increased its stake in shares of T2 Biosystems by 3.1% during the second quarter. Essex Investment Management Co. LLC now owns 679,200 shares of the medical equipment provider’s stock valued at $5,257,000 after buying an additional 20,331 shares during the period. Sandia Holdings LLC purchased a new position in shares of T2 Biosystems during the first quarter valued at approximately $3,532,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of T2 Biosystems during the second quarter valued at approximately $2,709,000. Finally, Millennium Management LLC increased its stake in shares of T2 Biosystems by 109.2% during the first quarter. Millennium Management LLC now owns 286,425 shares of the medical equipment provider’s stock valued at $1,859,000 after buying an additional 149,496 shares during the period. 59.12% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on TTOO shares. BidaskClub cut T2 Biosystems from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 24th. ValuEngine raised T2 Biosystems from a “hold” rating to a “buy” rating in a research note on Friday, May 18th. HC Wainwright reissued a “buy” rating and set a $14.00 target price (up from $8.50) on shares of T2 Biosystems in a research note on Wednesday, May 30th. Finally, Zacks Investment Research cut 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 issued a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $8.05.
Shares of TTOO stock opened at $6.56 on Friday. T2 Biosystems Inc has a twelve month low of $3.60 and a twelve month high of $9.98. The company has a current ratio of 7.31, a quick ratio of 7.10 and a debt-to-equity ratio of 1.22.
T2 Biosystems (NASDAQ:TTOO) last issued its quarterly earnings results on Thursday, August 2nd. The medical equipment provider reported ($0.32) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.32). The company had revenue of $3.90 million for the quarter, compared to analysts’ expectations of $2.97 million. T2 Biosystems had a negative return on equity of 556.22% and a negative net margin of 637.62%. The firm’s revenue for the quarter was up 307.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.50) earnings per share. equities research analysts predict that T2 Biosystems Inc will post -1.32 earnings per share 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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