Polaris Venture Management Co. V L.L.C. trimmed its holdings in T2 Biosystems Inc (NASDAQ:TTOO) by 1.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,841,924 shares of the medical equipment provider’s stock after selling 33,600 shares during the quarter. T2 Biosystems comprises 7.8% of Polaris Venture Management Co. V L.L.C.’s portfolio, making the stock its 6th biggest holding. Polaris Venture Management Co. V L.L.C. owned about 4.21% of T2 Biosystems worth $14,257,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates acquired a new stake in T2 Biosystems in the second quarter worth about $100,000. Renaissance Technologies LLC increased its position in T2 Biosystems by 382.7% in the second quarter. Renaissance Technologies LLC now owns 821,500 shares of the medical equipment provider’s stock worth $6,358,000 after purchasing an additional 651,300 shares during the period. MYDA Advisors LLC acquired a new stake in T2 Biosystems in the second quarter worth about $157,000. ClariVest Asset Management LLC acquired a new stake in T2 Biosystems in the second quarter worth about $1,010,000. Finally, BlackRock Inc. increased its position in T2 Biosystems by 1,036.1% in the second quarter. BlackRock Inc. now owns 1,825,811 shares of the medical equipment provider’s stock worth $14,131,000 after purchasing an additional 1,665,105 shares during the period. 59.12% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently commented on TTOO shares. ValuEngine upgraded T2 Biosystems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 5th. BidaskClub upgraded T2 Biosystems from a “hold” rating to a “buy” rating in a research report on Thursday, May 24th. Zacks Investment Research upgraded T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price objective (up from $8.50) on shares of T2 Biosystems in a research report on Wednesday, May 30th. Finally, Leerink Swann upgraded T2 Biosystems from a “market perform” rating to an “outperform” rating in a research report on Friday, June 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $8.05.
T2 Biosystems stock opened at $6.56 on Friday. T2 Biosystems Inc has a 1 year low of $3.60 and a 1 year 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 posted its earnings results on Thursday, August 2nd. The medical equipment provider reported ($0.32) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.32). The company had revenue of $3.90 million during the quarter, compared to analyst estimates of $2.97 million. T2 Biosystems had a negative return on equity of 556.22% and a negative net margin of 637.62%. The company’s revenue for the quarter was up 307.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.50) EPS. analysts expect that T2 Biosystems Inc will post -1.32 EPS for the current 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.
Further Reading: Analyst Ratings
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