T2 Biosystems Inc(NASDAQ:TTOO) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 1, 2016. Company reported revenue of $990.00K. Analysts estimated a revenue of $1.45M. Earnings per share were $-0.58. Analysts had estimated an EPS of $-0.56.
In a different note, On Jul 20, 2016, WBB Securities said it Upgrades its rating on T2 Biosystems Inc. The shares have been rated ‘Strong Buy’ by the firm. On Jun 22, 2016, WBB Securities said it Upgrades its rating on T2 Biosystems Inc. The shares have been rated ‘Buy’ by the firm.
T2 Biosystems Inc (TTOO) shares turned negative on Mondays trading session with the shares closing down -0.38 points or -5.08% at a volume of 2,03,899. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $7.608. The peak price level was also seen at $7.608 while the days lowest was $7.02. Finally the shares closed at $7.1. The 52-week high of the shares is $14.14 while the 52-week low is $4.92. According to the latest information available, the market cap of the company is $172 M.
Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Rahul Dhanda (SVP of Corporate Development) sold 3,589 shares at $8.16 per share price.Also, On Dec 10, 2015, David B Elsbree (director) purchased 10,000 shares at $9.75 per share price.On Aug 11, 2015, Michael J. Cima (director) purchased 1,000 shares at $14.01 per share price, according to the Form-4 filing with the securities and exchange commission.
T2 Biosystems Inc. is an in vitro diagnostics company that has developed 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). The Company’s initial development efforts target sepsis hemostasis and Lyme disease areas of significant unmet medical need. Its platform detects a range of targets including molecular targets such as deoxyribonucleic acid (DNA) immunodiagnostics such as proteins and a range of hemostasis measurements. The initial panels designed to run on T2Dx are T2Candida and T2Bacteria which are focused on identifying life-threatening pathogens associated with sepsis.