Northern Trust Corp decreased its holdings in T2 Biosystems Inc (NASDAQ:TTOO) by 4.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 351,151 shares of the medical equipment provider’s stock after selling 17,395 shares during the period. Northern Trust Corp owned approximately 0.79% of T2 Biosystems worth $589,000 as of its most recent SEC filing.
Separately, Wiley BROS. Aintree Capital LLC raised its holdings in T2 Biosystems by 150.0% during the 2nd quarter. Wiley BROS. Aintree Capital LLC now owns 25,000 shares of the medical equipment provider’s stock valued at $42,000 after buying an additional 15,000 shares during the last quarter. 38.21% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:TTOO opened at $2.54 on Monday. T2 Biosystems Inc has a 52 week low of $0.52 and a 52 week high of $6.09. The firm has a market capitalization of $116.24 million, a P/E ratio of -2.02 and a beta of 1.21. The company has a fifty day moving average of $2.29 and a 200 day moving average of $2.00.
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 the Thomson Reuters’ consensus estimate 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 company had revenue of $1.80 million during the quarter, compared to the consensus estimate of $1.95 million. During the same quarter last year, the company posted ($0.32) earnings per share. The firm’s revenue for the quarter was down 53.8% compared to the same quarter last year. Research analysts predict that T2 Biosystems Inc will post -1.22 EPS for the current fiscal year.
A number of equities research analysts recently commented on the stock. HC Wainwright reiterated a “hold” rating on shares of T2 Biosystems in a report on Wednesday, August 7th. Alliance Global Partners lowered shares of T2 Biosystems from a “buy” rating to a “neutral” rating and lowered their price target for the company from $5.00 to $0.40 in a report on Thursday, August 1st. Cantor Fitzgerald lowered shares of T2 Biosystems from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 31st. Leerink Swann set a $5.00 price target on shares of T2 Biosystems and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, Svb Leerink upped their price target on shares of T2 Biosystems from $3.00 to $5.00 and gave the company an “outperform” rating in a report on Thursday, September 12th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $5.18.
T2 Biosystems 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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