T2 Biosystems Target of Unusually Large Options Trading (NASDAQ:TTOO)

T2 Biosystems, Inc. (NASDAQ:TTOO) was the target of unusually large options trading on Monday. Investors purchased 4,301 call options on the stock. This represents an increase of approximately 116% compared to the average daily volume of 1,994 call options.

Hedge Funds Weigh In On T2 Biosystems

A number of institutional investors and hedge funds have recently made changes to their positions in TTOO. Jane Street Group LLC purchased a new position in shares of T2 Biosystems during the 3rd quarter valued at about $28,000. Virtu Financial LLC raised its stake in T2 Biosystems by 1,763.1% during the 2nd quarter. Virtu Financial LLC now owns 323,427 shares of the medical equipment provider’s stock valued at $52,000 after purchasing an additional 306,067 shares during the period. Bank of New York Mellon Corp raised its stake in T2 Biosystems by 449.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 538,540 shares of the medical equipment provider’s stock valued at $61,000 after purchasing an additional 440,531 shares during the period. Acadian Asset Management LLC bought a new stake in T2 Biosystems during the 2nd quarter valued at approximately $67,000. Finally, Anson Funds Management LP bought a new stake in T2 Biosystems during the 1st quarter valued at approximately $242,000. Hedge funds and other institutional investors own 3.74% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on T2 Biosystems in a research note on Tuesday, September 12th. They issued a “sell” rating on the stock.

T2 Biosystems Price Performance

Shares of TTOO opened at $0.46 on Tuesday. The business’s 50 day moving average price is $0.28 and its 200-day moving average price is $0.29. T2 Biosystems has a 52 week low of $0.05 and a 52 week high of $5.72.

T2 Biosystems (NASDAQ:TTOO) last issued its earnings results on Monday, August 7th. The medical equipment provider reported ($0.08) earnings per share (EPS) for the quarter. The firm had revenue of $1.96 million for the quarter.

T2 Biosystems Company Profile

T2 Biosystems, Inc, an in vitro diagnostics company, develops 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.