Founders Capital Management raised its position in shares of T2 Biosystems Inc (NASDAQ:TTOO) by 183.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,000 shares of the medical equipment provider’s stock after buying an additional 11,000 shares during the quarter. Founders Capital Management’s holdings in T2 Biosystems were worth $43,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TTOO. Macquarie Group Ltd. purchased a new stake in shares of T2 Biosystems during the 2nd quarter valued at $27,000. Jane Street Group LLC purchased a new stake in T2 Biosystems during the 2nd quarter worth $316,000. Paloma Partners Management Co purchased a new stake in T2 Biosystems during the 2nd quarter worth $235,000. Vanguard Group Inc. boosted its position in T2 Biosystems by 20.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,390,197 shares of the medical equipment provider’s stock worth $2,336,000 after purchasing an additional 234,369 shares during the period. Finally, Private Advisor Group LLC purchased a new stake in T2 Biosystems during the 2nd quarter worth $27,000. Institutional investors and hedge funds own 38.28% of the company’s stock.
A number of brokerages recently weighed in on TTOO. Zacks Investment Research cut shares of T2 Biosystems from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Leerink Swann set a $5.00 price target on shares of T2 Biosystems and gave the stock a “buy” rating in a research report on Thursday, September 12th. Alliance Global Partners lowered shares of T2 Biosystems from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $5.00 to $0.40 in a report on Thursday, August 1st. Svb Leerink boosted their price objective on shares of T2 Biosystems from $3.00 to $5.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. Finally, Janney Montgomery Scott upgraded shares of T2 Biosystems from a “neutral” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Thursday, September 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $5.18.
T2 Biosystems (NASDAQ:TTOO) last issued its quarterly earnings data on Tuesday, July 30th. The medical equipment provider reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.03). T2 Biosystems had a negative return on equity of 1,263.94% and a negative net margin of 722.70%. The firm had revenue of $1.80 million during the quarter, compared to analyst estimates of $1.95 million. During the same quarter in the prior year, the firm earned ($0.32) EPS. The business’s quarterly revenue was down 53.8% compared to the same quarter last year. On average, research analysts expect that T2 Biosystems Inc will post -1.22 EPS for the current fiscal year.
T2 Biosystems Company Profile
T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States and internationally. 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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