T2 Biosystems, Inc. (NASDAQ:TTOO) Short Interest Update

T2 Biosystems, Inc. (NASDAQ:TTOO) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 566,500 shares, an increase of 59.4% from the September 30th total of 355,300 shares. Currently, 9.4% of the company’s stock are sold short. Based on an average daily trading volume, of 322,600 shares, the days-to-cover ratio is currently 1.8 days.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TTOO. Canaccord Genuity Group increased their price objective on T2 Biosystems from $3.00 to $5.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. StockNews.com upgraded shares of T2 Biosystems to a “sell” rating in a report on Tuesday, July 30th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in T2 Biosystems stock. Armistice Capital LLC acquired a new position in T2 Biosystems, Inc. (NASDAQ:TTOO) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,658,000 shares of the medical equipment provider’s stock, valued at approximately $8,854,000. Armistice Capital LLC owned 9.49% of T2 Biosystems at the end of the most recent quarter. 23.18% of the stock is currently owned by hedge funds and other institutional investors.

T2 Biosystems Stock Down 2.8 %

TTOO traded down $0.03 on Monday, hitting $1.05. The company had a trading volume of 787,885 shares, compared to its average volume of 296,664. The company’s fifty day moving average price is $2.29 and its 200 day moving average price is $3.73. T2 Biosystems has a 1-year low of $1.02 and a 1-year high of $8.38.

T2 Biosystems (NASDAQ:TTOO) last issued its quarterly earnings results on Monday, July 29th. The medical equipment provider reported ($0.66) EPS for the quarter, topping analysts’ consensus estimates of ($0.97) by $0.31. The business had revenue of $1.95 million for the quarter.

About T2 Biosystems

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.