Polaris Venture Management Co. V L.L.C. decreased its stake in shares of T2 Biosystems Inc. (NASDAQ:TTOO) by 7.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,875,524 shares of the company’s stock after selling 142,926 shares during the period. T2 Biosystems accounts for approximately 15.9% of Polaris Venture Management Co. V L.L.C.’s portfolio, making the stock its 2nd largest position. Polaris Venture Management Co. V L.L.C. owned 0.08% of T2 Biosystems worth $14,798,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Flagship Ventures Fund IV L.P. acquired a new stake in shares of T2 Biosystems during the first quarter valued at about $7,314,000. Geode Capital Management LLC raised its stake in shares of T2 Biosystems by 2.3% in the first quarter. Geode Capital Management LLC now owns 100,150 shares of the company’s stock valued at $987,000 after buying an additional 2,238 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of T2 Biosystems by 1.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,223,416 shares of the company’s stock valued at $41,642,000 after buying an additional 48,529 shares in the last quarter. Finally, State Street Corp raised its stake in shares of T2 Biosystems by 23.9% in the first quarter. State Street Corp now owns 93,844 shares of the company’s stock valued at $927,000 after buying an additional 18,126 shares in the last quarter. 80.41% of the stock is owned by hedge funds and other institutional investors.
Shares of T2 Biosystems Inc. (NASDAQ:TTOO) traded up 4.19% on Friday, reaching $6.71. The company’s stock had a trading volume of 43,262 shares. The company’s market capitalization is $163.48 million. The company’s 50-day moving average is $6.91 and its 200 day moving average is $7.78. T2 Biosystems Inc. has a 12-month low of $4.92 and a 12-month high of $12.15.
T2 Biosystems (NASDAQ:TTOO) last announced its quarterly earnings results on Monday, August 1st. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by $0.02. The business had revenue of $0.99 million for the quarter, compared to the consensus estimate of $1.53 million. T2 Biosystems had a negative net margin of 1,233.67% and a negative return on equity of 159.25%. The company’s revenue for the quarter was up 75.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.54) earnings per share. Equities analysts anticipate that T2 Biosystems Inc. will post ($2.18) earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on the company. Zacks Investment Research raised T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Thursday, October 6th. Canaccord Genuity reissued a “buy” rating and issued a $9.00 price objective on shares of T2 Biosystems in a report on Thursday, September 22nd. WBB Securities raised T2 Biosystems from a “buy” rating to a “strong-buy” rating and lifted their price objective for the stock from $11.00 to $12.00 in a report on Wednesday, July 20th. Leerink Swann reissued a “buy” rating on shares of T2 Biosystems in a report on Sunday, July 10th. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of T2 Biosystems in a report on Saturday, July 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $10.65.
T2 Biosystems Company Profile
T2 Biosystems, Inc is an in vitro diagnostics company engaged in developing a technology platform offering an alternative to diagnostic methodologies. The Company’s T2 Magnetic Resonance platform (T2MR) enables detection of pathogens, biomarkers and other abnormalities in a range of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as one colony forming unit per milliliter (CFU/mL).
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