GSA Partners Is Betting Big on T2 Biosystems (TTOO) Stock

Source: Inthon Maitrisamphan /

The good news for T2 Biosystems (NASDAQ:TTOO), and its investors just keeps coming. Earlier this week, the diagnostic testing company received an extension to regain Nasdaq compliance. This news sent TTOO stock soaring as some investor fears were quelled. But as it turns out, this hasn’t been the only positive development for T2. On the same day as the Nasdaq extension, investment firm GSA Capital Partners significantly increased its stake in the company, adding 799,572 shares of TTOO stock to its holdings. Share prices have been soaring since then, rising more than 235% during the past week.

Does this mean that T2’s impressive growth will continue as the company works to regain compliance with the Nasdaq? Let’s take a closer look at these recent developments.

What’s Happening With TTOO Stock

The company certainly hasn’t lost any momentum this morning. As of this writing, TTOO stock is up 64% for the day, and its current trajectory suggests it can rise even more. The stock still has substantial ground to make up in order to get back to where it traded when 2023 began. But even when it traded at $2 per share as the year kicked off, it didn’t offer investors much cause for optimism. It’s difficult to ignore the fact that just a few years ago, TTOO was trading at over $100 per share.

It’s clear that this company isn’t without its problems. But GSA Capital clearly sees its recent declines as an opportunity to buy the dip on a company that can keep rising. The stake it has acquired is sizable, and this isn’t the first time that it has bet on TTOO stock. As Gurufocus reports:

“The transaction involved the acquisition of 799,572 shares of T2 Biosystems Inc at a traded price of $0.115 per share. This addition increased GSA Capital Partners LLP’s total holdings in T2 Biosystems Inc to 4,599,059 shares, representing 1.50% of the company’s total shares and 0.05% of the firm’s portfolio. The transaction had a minor impact of 0.01% on the firm’s portfolio.”

According to data from Whale Wisdom, this purchase makes GSA the second-largest institutional investor in T2. The largest is healthcare-focused investment firm CR Group, which currently holds 72,503,592 shares. While the company’s future remains uncertain, if it can regain compliance and continue trading on the Nasdaq, this investment could certainly pay off for GSA.

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On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Samuel O’Brient has been covering financial markets and analyzing economic policy for three-plus years. His areas of expertise involve electric vehicle (EV) stocks, green energy and NFTs. O’Brient loves helping everyone understand the complexities of economics. He is ranked in the top 15% of stock pickers on TipRanks.

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