Senvest Management LLC Increases Stake in T2 Biosystems Inc (TTOO)

Senvest Management LLC lifted its stake in shares of T2 Biosystems Inc (NASDAQ:TTOO) by 4.0% during the third quarter, HoldingsChannel.com reports. The firm owned 2,769,931 shares of the medical equipment provider’s stock after buying an additional 105,800 shares during the period. T2 Biosystems comprises about 1.6% of Senvest Management LLC’s holdings, making the stock its 20th largest position. Senvest Management LLC owned approximately 0.06% of T2 Biosystems worth $20,636,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. ClariVest Asset Management LLC acquired a new stake in shares of T2 Biosystems during the 2nd quarter worth approximately $1,010,000. Levin Capital Strategies L.P. acquired a new stake in shares of T2 Biosystems during the 2nd quarter worth approximately $698,000. Ardsley Advisory Partners acquired a new stake in shares of T2 Biosystems during the 2nd quarter worth approximately $5,844,000. Creative Planning acquired a new stake in shares of T2 Biosystems during the 3rd quarter worth approximately $112,000. Finally, Zacks Investment Management acquired a new stake in shares of T2 Biosystems during the 2nd quarter worth approximately $124,000. Institutional investors and hedge funds own 54.11% of the company’s stock.

Several analysts recently commented on the company. Zacks Investment Research upgraded T2 Biosystems from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a research report on Thursday, November 8th. Goldman Sachs Group set a $5.00 target price on T2 Biosystems and gave the company a “hold” rating in a research report on Friday. BidaskClub upgraded T2 Biosystems from a “strong sell” rating to a “sell” rating in a research report on Thursday, September 27th. ValuEngine cut T2 Biosystems from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. Finally, Cantor Fitzgerald set a $11.00 target price on T2 Biosystems and gave the company a “buy” rating in a research report on Friday, November 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $8.94.

Shares of TTOO traded up $0.01 during trading hours on Tuesday, hitting $4.46. 19,393 shares of the company were exchanged, compared to its average volume of 385,340. The company has a debt-to-equity ratio of 1.66, a current ratio of 7.16 and a quick ratio of 6.81. T2 Biosystems Inc has a one year low of $3.85 and a one year high of $9.98.

T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings data on Thursday, November 1st. The medical equipment provider reported ($0.25) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.08. The business had revenue of $2.50 million during the quarter, compared to analyst estimates of $2.44 million. T2 Biosystems had a negative return on equity of 461.31% and a negative net margin of 522.30%. The company’s revenue was up 127.3% compared to the same quarter last year. During the same period last year, the company posted ($0.45) EPS. As a group, equities analysts expect that T2 Biosystems Inc will post -1.22 EPS for the current year.

In other news, Director Stanley Lapidus sold 6,048 shares of the firm’s stock in a transaction on Tuesday, November 6th. The stock was sold at an average price of $5.29, for a total value of $31,993.92. Following the completion of the sale, the director now owns 59,058 shares of the company’s stock, valued at $312,416.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Thomas J. Lowery sold 138,144 shares of the firm’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $6.18, for a total value of $853,729.92. Following the completion of the sale, the insider now directly owns 57,873 shares of the company’s stock, valued at approximately $357,655.14. The disclosure for this sale can be found here. Company insiders own 31.50% of the company’s stock.

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T2 Biosystems Company Profile

T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States. 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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Institutional Ownership by Quarter for T2 Biosystems (NASDAQ:TTOO)

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