T2 Biosystems, Inc. (NASDAQ: TTOO) shares are experiencing a decline in trading today, dropping over 50% in the past five days.
An SEC filing revealed a significant insider sale of TTOO shares last week. CR Group, L.P. sold more than 10 million shares at $0.366 per share on September 19.
This large insider sale follows the company’s announcement last Monday regarding FDA clearance for commercial distribution of their biothreat panel.
T2 Biosystems is attracting attention from retail investors and short-sellers alike. It is one of the most active stocks on Stocktwits, and 8.6% of available shares are being sold short, according to data from Benzinga Pro.
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At the time of publication, T2 Biosystems shares have dropped by 12.7% to 22 cents, as reported by Benzinga Pro.
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