Short Interest in T2 Biosystems, Inc. (NASDAQ:TTOO) Increases By 17.6%

T2 Biosystems, Inc. (NASDAQ:TTOO) saw a significant growth in short interest in September. As of September 15th, there was short interest totalling 374,300 shares, a growth of 17.6% from the August 31st total of 318,400 shares. Based on an average trading volume of 172,500 shares, the short-interest ratio is currently 2.2 days. Approximately 6.2% of the company’s stock are short sold.

Hedge Funds Weigh In On T2 Biosystems

A hedge fund recently raised its stake in T2 Biosystems stock. Virtu Financial LLC grew its stake in shares of T2 Biosystems, Inc. (NASDAQ:TTOO) by 29.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 13,096 shares of the medical equipment provider’s stock after buying an additional 3,018 shares during the period. Virtu Financial LLC owned approximately 0.24% of T2 Biosystems worth $39,000 as of its most recent filing with the SEC. Institutional investors own 23.18% of the company’s stock.

T2 Biosystems Trading Up 1.0 %

NASDAQ TTOO opened at $2.00 on Monday. T2 Biosystems has a twelve month low of $1.94 and a twelve month high of $33.20. The firm’s 50 day moving average price is $3.43 and its two-hundred day moving average price is $3.96.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TTOO. Canaccord Genuity Group raised their target price on shares of T2 Biosystems from $3.00 to $5.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. StockNews.com raised T2 Biosystems to a “sell” rating in a report on Tuesday, July 30th.

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.