TIAA CREF Investment Management LLC Has $215,000 Stake in T2 Biosystems, Inc. (TTOO)
TIAA CREF Investment Management LLC decreased its position in T2 Biosystems, Inc. (NASDAQ:TTOO) by 3.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 40,967 shares of the medical equipment provider’s stock after selling 1,368 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.13% of T2 Biosystems worth $215,000 as of its most recent SEC filing.
Separately, Bank of New York Mellon Corp boosted its position in T2 Biosystems by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 56,415 shares of the medical equipment provider’s stock worth $297,000 after buying an additional 201 shares during the period. 60.55% of the stock is currently owned by institutional investors and hedge funds.
T2 Biosystems, Inc. (NASDAQ:TTOO) traded up 4.57% on Thursday, hitting $4.35. 26,625 shares of the stock were exchanged. The firm’s market cap is $133.82 million. T2 Biosystems, Inc. has a 52-week low of $2.50 and a 52-week high of $8.04. The company has a 50-day moving average price of $3.14 and a 200-day moving average price of $4.25.
T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.49) by $0.01. The firm had revenue of $0.96 million for the quarter, compared to analysts’ expectations of $0.79 million. T2 Biosystems had a negative net margin of 1,473.71% and a negative return on equity of 178.83%. On average, equities research analysts anticipate that T2 Biosystems, Inc. will post ($1.93) EPS for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “TIAA CREF Investment Management LLC Has $215,000 Stake in T2 Biosystems, Inc. (TTOO)” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this article on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this article can be accessed at https://www.thecerbatgem.com/2017/08/31/tiaa-cref-investment-management-llc-has-215000-stake-in-t2-biosystems-inc-ttoo.html.
A number of research analysts have recently commented on the stock. Zacks Investment Research cut shares of T2 Biosystems from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. BTIG Research raised shares of T2 Biosystems from a “sell” rating to a “neutral” rating and set a $4.00 target price for the company in a report on Monday, May 8th. Finally, Cantor Fitzgerald dropped their target price on shares of T2 Biosystems from $7.00 to $6.00 and set an “overweight” rating for the company in a report on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.75.
In other news, Director David B. Elsbree purchased 10,000 shares of the business’s stock in a transaction on Tuesday, June 6th. The stock was acquired at an average price of $3.50 per share, for a total transaction of $35,000.00. Following the acquisition, the director now directly owns 50,000 shares of the company’s stock, valued at approximately $175,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have acquired a total of 20,000 shares of company stock valued at $70,330 in the last 90 days. 38.70% of the stock is currently owned by company insiders.
About T2 Biosystems
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).
Want to see what other hedge funds are holding TTOO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for T2 Biosystems, Inc. (NASDAQ:TTOO).
Receive News & Stock Ratings for T2 Biosystems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T2 Biosystems Inc. and related stocks with our FREE daily email newsletter.