Senvest Management LLC Increases Stake in T2 Biosystems Inc (TTOO)

Senvest Management LLC raised its position in shares of T2 Biosystems Inc (NASDAQ:TTOO) by 17.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,337,946 shares of the medical equipment provider’s stock after acquiring an additional 500,000 shares during the period. Senvest Management LLC owned approximately 9.32% of T2 Biosystems worth $14,019,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of TTOO. Essex Investment Management Co. LLC boosted its holdings in T2 Biosystems by 239.2% in the third quarter. Essex Investment Management Co. LLC now owns 706,194 shares of the medical equipment provider’s stock valued at $2,966,000 after purchasing an additional 498,004 shares during the last quarter. Lagoda Investment Management L.P. boosted its holdings in T2 Biosystems by 15.4% in the second quarter. Lagoda Investment Management L.P. now owns 1,975,921 shares of the medical equipment provider’s stock valued at $6,343,000 after purchasing an additional 264,337 shares during the last quarter. Susquehanna International Group LLP boosted its holdings in T2 Biosystems by 931.3% in the second quarter. Susquehanna International Group LLP now owns 85,620 shares of the medical equipment provider’s stock valued at $275,000 after purchasing an additional 95,920 shares during the last quarter. LMR Partners LLP purchased a new position in T2 Biosystems in the second quarter valued at about $180,000. Finally, Goldman Sachs Group Inc. boosted its holdings in T2 Biosystems by 0.4% in the second quarter. Goldman Sachs Group Inc. now owns 4,270,632 shares of the medical equipment provider’s stock valued at $13,709,000 after purchasing an additional 18,000 shares during the last quarter. 59.77% of the stock is owned by institutional investors.

Shares of T2 Biosystems Inc (NASDAQ TTOO) opened at $4.00 on Wednesday. T2 Biosystems Inc has a one year low of $2.50 and a one year high of $6.99. The company has a quick ratio of 5.28, a current ratio of 5.40 and a debt-to-equity ratio of 2.25.

T2 Biosystems (NASDAQ:TTOO) last announced its quarterly earnings data on Thursday, November 2nd. The medical equipment provider reported ($0.45) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.04. The firm had revenue of $1.11 million for the quarter, compared to analysts’ expectations of $1.10 million. T2 Biosystems had a negative return on equity of 244.82% and a negative net margin of 1,497.70%. The company’s revenue was up 2.8% compared to the same quarter last year. analysts predict that T2 Biosystems Inc will post -1.85 earnings per share for the current year.

TTOO has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $8.00 price target on shares of T2 Biosystems in a report on Friday, November 3rd. Canaccord Genuity reissued a “buy” rating and issued a $6.00 price target on shares of T2 Biosystems in a report on Monday, October 30th. Zacks Investment Research raised T2 Biosystems from a “hold” rating to a “buy” rating and set a $4.75 price target for the company in a report on Wednesday, November 8th. Finally, ValuEngine upgraded T2 Biosystems from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 13th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $6.54.

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T2 Biosystems Company Profile

T2 Biosystems, Inc is an in vitro diagnostics company engaged in developing a technology platform offering an alternative to diagnostic methodologies. The Company’s T2 Magnetic Resonance platform (T2MR) enables detection of pathogens, biomarkers and other abnormalities in a range of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as one colony forming unit per milliliter (CFU/mL).

Institutional Ownership by Quarter for T2 Biosystems (NASDAQ:TTOO)

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