T2 Biosystems, Inc. (NASDAQ:TTOO) Sees Large Increase in Short Interest

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

T2 Biosystems Stock Performance

Shares of NASDAQ TTOO traded down $0.18 during midday trading on Friday, reaching $1.08. 957,817 shares of the company were exchanged, compared to its average volume of 294,186. The stock has a fifty day simple moving average of $2.29 and a 200 day simple moving average of $3.73. T2 Biosystems has a 1 year low of $1.07 and a 1 year high of $8.38.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on TTOO shares. StockNews.com upgraded T2 Biosystems to a “sell” rating in a research note on Tuesday, July 30th. Canaccord Genuity Group upped their price target on shares of T2 Biosystems from $3.00 to $5.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th.

Institutional Trading of T2 Biosystems

An institutional investor recently bought a new position in T2 Biosystems stock. Armistice Capital LLC purchased a new stake in T2 Biosystems, Inc. (NASDAQ:TTOO) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 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 reporting period. Institutional investors own 23.18% of the company’s stock.

T2 Biosystems Company Profile

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.