Stanley Lapidus Sells 6,048 Shares of T2 Biosystems Inc (TTOO) Stock

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T2 Biosystems Inc (NASDAQ:TTOO) Director Stanley Lapidus sold 6,048 shares of the company’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $5.29, for a total transaction of $31,993.92. Following the transaction, the director now owns 59,058 shares in the company, valued at $312,416.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of TTOO opened at $5.08 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 6.81 and a current ratio of 7.16. T2 Biosystems Inc has a twelve month low of $3.75 and a twelve month high of $9.98.

T2 Biosystems (NASDAQ:TTOO) last issued its earnings results on Thursday, November 1st. The medical equipment provider reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.08. T2 Biosystems had a negative net margin of 522.30% and a negative return on equity of 461.31%. The company had revenue of $2.50 million for the quarter, compared to analyst estimates of $2.44 million. During the same period in the prior year, the business posted ($0.45) earnings per share. The firm’s revenue for the quarter was up 127.3% compared to the same quarter last year. Equities research analysts expect that T2 Biosystems Inc will post -1.26 earnings per share for the current year.

Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. HC Wainwright set a $14.00 target price on shares of T2 Biosystems and gave the stock a “buy” rating in a research report on Friday, August 3rd. BidaskClub upgraded shares of T2 Biosystems from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. Cantor Fitzgerald set a $11.00 target price on shares of T2 Biosystems and gave the stock a “buy” rating in a research report on Friday, November 2nd. Finally, ValuEngine lowered shares of T2 Biosystems from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. One 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 has a consensus rating of “Buy” and a consensus target price of $8.99.

Institutional investors and hedge funds have recently modified their holdings of the business. ClariVest Asset Management LLC acquired a new stake in shares of T2 Biosystems in the second quarter valued at approximately $1,010,000. Levin Capital Strategies L.P. acquired a new stake in shares of T2 Biosystems in the second quarter valued at approximately $698,000. Ardsley Advisory Partners acquired a new stake in shares of T2 Biosystems in the second quarter valued at approximately $5,844,000. Zacks Investment Management acquired a new stake in shares of T2 Biosystems in the second quarter valued at approximately $124,000. Finally, MYDA Advisors LLC acquired a new stake in shares of T2 Biosystems in the second quarter valued at approximately $157,000. Institutional investors own 59.01% of the company’s stock.

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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.

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