T2 Biosystems, Inc. (NASDAQ:TTOO) Short Interest Update

T2 Biosystems, Inc. (NASDAQ:TTOO) saw a large decrease in short interest during the month of August. As of August 15th, there was short interest totalling 313,300 shares, a decrease of 26.6% from the July 31st total of 426,800 shares. Currently, 5.3% of the company’s shares are sold short. Based on an average daily trading volume, of 157,300 shares, the days-to-cover ratio is presently 2.0 days.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com raised T2 Biosystems to a “sell” rating in a research report on Tuesday, July 30th. Canaccord Genuity Group upped their target price on T2 Biosystems from $3.00 to $5.00 and gave the company a “hold” rating in a report on Tuesday, July 30th.

T2 Biosystems Price Performance

TTOO traded down $0.21 during trading on Friday, reaching $3.19. The stock had a trading volume of 164,211 shares, compared to its average volume of 264,261. T2 Biosystems has a one year low of $2.60 and a one year high of $46.85. The stock’s 50 day moving average is $4.58 and its two-hundred day moving average is $4.37.

T2 Biosystems (NASDAQ:TTOO) last issued its quarterly earnings results on Monday, July 29th. The medical equipment provider reported ($0.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.31. The business had revenue of $1.95 million for the quarter.

Hedge Funds Weigh In On T2 Biosystems

An institutional investor recently bought a new position in T2 Biosystems stock. Armistice Capital LLC bought a new position in T2 Biosystems, Inc. (NASDAQ:TTOO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,658,000 shares of the medical equipment provider’s stock, valued at approximately $8,854,000. Armistice Capital LLC owned about 9.49% of T2 Biosystems at the end of the most recent quarter. Institutional investors and hedge funds own 23.18% of the company’s stock.

T2 Biosystems Company Profile

T2 Biosystems, Inc, an in vitro diagnostics company, develops and sells diagnostic products and product candidates in the United States and internationally. Its technology 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.