T2 Biosystems, Inc. (NASDAQ:TTOO) Sees Significant Increase in Short Interest

T2 Biosystems, Inc. (NASDAQ:TTOO) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 834,800 shares, an increase of 47.4% from the October 15th total of 566,500 shares. Approximately 14.4% of the shares of the stock are short sold. Based on an average daily volume of 448,000 shares, the short-interest ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on TTOO shares. StockNews.com raised shares of T2 Biosystems to a “sell” rating in a research note on Tuesday, July 30th. Canaccord Genuity Group boosted their price objective on shares of T2 Biosystems from $3.00 to $5.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th.

T2 Biosystems Stock Down 4.4 %

Shares of NASDAQ TTOO traded down $0.02 during midday trading on Friday, hitting $0.50. The company had a trading volume of 1,030,601 shares, compared to its average volume of 332,118. T2 Biosystems has a twelve month low of $0.44 and a twelve month high of $8.38. The business has a 50-day simple moving average of $1.51 and a two-hundred day simple moving average of $3.49.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in T2 Biosystems stock. Virtu Financial LLC boosted its stake in T2 Biosystems, Inc. (NASDAQ:TTOO) by 29.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,096 shares of the medical equipment provider’s stock after purchasing an additional 3,018 shares during the quarter. Virtu Financial LLC owned about 0.24% of T2 Biosystems worth $39,000 as of its most recent filing with the SEC. 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.