Short Interest in T2 Biosystems, Inc. (NASDAQ:TTOO) Expands By 50.8%

T2 Biosystems, Inc. (NASDAQ:TTOO) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 942,500 shares, an increase of 50.8% from the December 15th total of 624,900 shares. Based on an average daily volume of 900,900 shares, the days-to-cover ratio is presently 1.0 days. Currently, 10.1% of the company’s shares are short sold.

Institutional Investors Weigh In On T2 Biosystems

A hedge fund recently bought a new stake in T2 Biosystems stock. Armistice Capital LLC bought a new position in shares of T2 Biosystems, Inc. (NASDAQ:TTOO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 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. Institutional investors and hedge funds own 23.18% of the company’s stock.

T2 Biosystems Stock Down 7.1 %

Shares of T2 Biosystems stock opened at $0.26 on Friday. The company has a fifty day moving average price of $0.44 and a 200 day moving average price of $2.15. T2 Biosystems has a twelve month low of $0.25 and a twelve month high of $6.95.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on T2 Biosystems in a report on Monday. They set a “sell” rating for the company.

About T2 Biosystems

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.