T2 Biosystems, Inc. (NASDAQ:TTOO) Sees Large Growth in Short Interest

T2 Biosystems, Inc. (NASDAQ:TTOO) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 1,020,000 shares, a growth of 22.2% from the October 31st total of 834,800 shares. Approximately 14.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 581,500 shares, the days-to-cover ratio is presently 1.8 days.

T2 Biosystems Price Performance

T2 Biosystems stock traded up $0.07 during trading hours on Friday, hitting $0.57. The stock had a trading volume of 1,976,148 shares, compared to its average volume of 363,966. T2 Biosystems has a one year low of $0.42 and a one year high of $8.38. The business’s 50 day simple moving average is $1.14 and its 200-day simple moving average is $3.28.

Hedge Funds Weigh In On T2 Biosystems

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on T2 Biosystems in a research note on Monday, November 25th. They issued a “sell” rating on the stock.

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.