T2 Biosystems Inc (TTOO) reported quarterly earnings results on Monday, May-2-2016. The company reported $-0.55 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $-0.54. The company posted revenue of $1.10 million in the period, compared to analysts expectations of $1.01 million. The company’s revenue was up 485.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.53 EPS.
Many Wall Street Analysts have commented on T2 Biosystems Inc. Shares were Reiterated by Canaccord Genuity on Apr 12, 2016 to “Buy” and Lowered the Price Target to $ 12 from a previous price target of $13 .WBB Securities Initiated T2 Biosystems Inc on Feb 17, 2016 to “Speculative Buy”, Price Target of the shares are set at $11.Cantor Fitzgerald Initiated T2 Biosystems Inc on Feb 10, 2016 to “Buy”, Price Target of the shares are set at $15.
T2 Biosystems Inc closed down -0.02 points or -0.22% at $9.21 with 75,973 shares getting traded on Wednesday. Post opening the session at $9.12, the shares hit an intraday low of $8.97 and an intraday high of $9.555 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Mar 18, 2016, Rahul Dhanda (SVP of Corporate Development) sold 7,588 shares at $8.02 per share price. According to the SEC, 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.