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

T2 Biosystems, Inc. (NASDAQ:TTOO) saw a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 834,800 shares, a growth of 47.4% from the October 15th total of 566,500 shares. Based on an average daily volume of 448,000 shares, the days-to-cover ratio is presently 1.9 days. Approximately 14.4% of the shares of the company are short sold.

Analyst Ratings Changes

TTOO has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their price objective on T2 Biosystems from $3.00 to $5.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th. StockNews.com raised shares of T2 Biosystems to a “sell” rating in a report on Tuesday, July 30th.

Hedge Funds Weigh In On T2 Biosystems

An institutional investor recently raised its position in T2 Biosystems stock. Virtu Financial LLC grew its holdings in shares of T2 Biosystems, Inc. (NASDAQ:TTOO) by 29.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 13,096 shares of the medical equipment provider’s stock after acquiring an additional 3,018 shares during the quarter. Virtu Financial LLC owned about 0.24% of T2 Biosystems worth $39,000 as of its most recent SEC filing. 23.18% of the stock is owned by institutional investors and hedge funds.

T2 Biosystems Stock Performance

NASDAQ TTOO opened at $0.50 on Friday. The company has a 50-day moving average price of $1.51 and a two-hundred day moving average price of $3.49. T2 Biosystems has a 52 week low of $0.44 and a 52 week high of $8.38.

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.