T2 Biosystems, Inc. (NASDAQ:TTOO) Short Interest Update

T2 Biosystems, Inc. (NASDAQ:TTOO) was the target of a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 624,900 shares, a decrease of 28.6% from the November 30th total of 875,200 shares. Based on an average trading volume of 782,300 shares, the days-to-cover ratio is presently 0.8 days. Approximately 6.7% of the company’s shares are short sold.

T2 Biosystems Price Performance

NASDAQ TTOO traded up $0.02 during trading hours on Friday, hitting $0.43. The company’s stock had a trading volume of 795,770 shares, compared to its average volume of 404,656. T2 Biosystems has a 52 week low of $0.31 and a 52 week high of $8.38. The company’s 50-day simple moving average is $0.62 and its two-hundred day simple moving average is $2.62.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in T2 Biosystems stock. Armistice Capital LLC acquired a new stake in shares of T2 Biosystems, Inc. (NASDAQ:TTOO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,658,000 shares of the medical equipment provider’s stock, valued at approximately $8,854,000. Armistice Capital LLC owned approximately 9.49% of T2 Biosystems at the end of the most recent quarter. 23.18% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on T2 Biosystems in a research note on Saturday. They set a “sell” rating on the stock.

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.