BlackRock Inc. boosted its position in shares of T2 Biosystems Inc (NASDAQ:TTOO) by 1,036.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,825,811 shares of the medical equipment provider’s stock after acquiring an additional 1,665,105 shares during the period. BlackRock Inc. owned 4.17% of T2 Biosystems worth $14,131,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently bought and sold shares of TTOO. Emerald Mutual Fund Advisers Trust purchased a new stake in T2 Biosystems during the second quarter valued at approximately $2,709,000. EAM Investors LLC purchased a new stake in T2 Biosystems during the second quarter valued at approximately $1,631,000. Millennium Management LLC lifted its position in 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 acquiring an additional 149,496 shares during the last quarter. EAM Global Investors LLC purchased a new stake in T2 Biosystems during the second quarter valued at approximately $1,148,000. Finally, JPMorgan Chase & Co. lifted its position in T2 Biosystems by 8,321.5% during the first quarter. JPMorgan Chase & Co. now owns 137,271 shares of the medical equipment provider’s stock valued at $891,000 after acquiring an additional 135,641 shares during the last quarter. 59.00% of the stock is owned by institutional investors.
TTOO has been the subject of a number of analyst reports. Cantor Fitzgerald set a $11.00 target price on shares of T2 Biosystems and gave the company a “buy” rating in a research report on Wednesday, September 26th. BidaskClub cut shares of T2 Biosystems from a “sell” rating to a “strong sell” rating in a research report on Friday, October 12th. Zacks Investment Research raised shares of T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. ValuEngine cut shares of T2 Biosystems from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Finally, HC Wainwright set a $14.00 target price on shares of T2 Biosystems and gave the company a “buy” rating in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $9.30.
NASDAQ TTOO opened at $5.11 on Wednesday. T2 Biosystems Inc has a 12-month low of $3.64 and a 12-month high of $9.98. The company has a quick ratio of 7.10, a current ratio of 7.31 and a debt-to-equity ratio of 1.22.
T2 Biosystems (NASDAQ:TTOO) last posted its quarterly earnings results on Thursday, August 2nd. The medical equipment provider reported ($0.32) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.32). The business had revenue of $3.90 million during the quarter, compared to analysts’ expectations of $2.97 million. T2 Biosystems had a negative net margin of 637.62% and a negative return on equity of 556.22%. The business’s quarterly revenue was up 307.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.50) earnings per share. Equities research analysts predict that T2 Biosystems Inc will post -1.33 EPS for the current fiscal year.
About T2 Biosystems
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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