Shares of T2 Biosystems Inc (NASDAQ:TTOO) have been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the firm. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $6.83.
A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald set a $7.00 price objective on T2 Biosystems and gave the stock a “buy” rating in a research report on Wednesday, March 8th. Zacks Investment Research lowered T2 Biosystems from a “hold” rating to a “sell” rating in a research report on Wednesday, March 15th. Morgan Stanley lowered T2 Biosystems from an “equal weight” rating to an “underweight” rating and set a $5.00 price objective on the stock. in a research report on Tuesday, March 14th. Canaccord Genuity set a $9.00 price objective on T2 Biosystems and gave the stock a “buy” rating in a research report on Tuesday, February 14th. Finally, WBB Securities restated a “buy” rating and set a $12.00 price objective on shares of T2 Biosystems in a research report on Sunday, February 5th.
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T2 Biosystems (NASDAQ:TTOO) opened at 3.15 on Friday. The firm’s market cap is $96.37 million. The stock’s 50 day moving average price is $4.26 and its 200 day moving average price is $5.33. T2 Biosystems has a 52 week low of $3.02 and a 52 week high of $9.49.
T2 Biosystems (NASDAQ:TTOO) last issued its quarterly earnings data on Tuesday, May 2nd. The medical equipment provider reported ($0.48) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.47) by $0.01. The firm had revenue of $0.94 million for the quarter, compared to the consensus estimate of $1.55 million. T2 Biosystems had a negative return on equity of 134.73% and a negative net margin of 1,250.59%. On average, equities research analysts predict that T2 Biosystems will post ($1.90) EPS for the current year.
In related news, Director David B. Elsbree bought 10,000 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were purchased at an average cost of $5.97 per share, with a total value of $59,700.00. Following the acquisition, the director now owns 40,000 shares of the company’s stock, valued at $238,800. The purchase was disclosed in a filing with the SEC, which is available through this link. 43.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in TTOO. Teachers Advisors LLC increased its position in shares of T2 Biosystems by 25.5% in the fourth quarter. Teachers Advisors LLC now owns 25,176 shares of the medical equipment provider’s stock valued at $132,000 after buying an additional 5,113 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of T2 Biosystems by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 56,415 shares of the medical equipment provider’s stock valued at $297,000 after buying an additional 201 shares during the last quarter. Geode Capital Management LLC increased its position in shares of T2 Biosystems by 4.4% in the first quarter. Geode Capital Management LLC now owns 122,318 shares of the medical equipment provider’s stock valued at $643,000 after buying an additional 5,140 shares during the last quarter. State Street Corp increased its position in shares of T2 Biosystems by 2.7% in the fourth quarter. State Street Corp now owns 195,138 shares of the medical equipment provider’s stock valued at $1,027,000 after buying an additional 5,205 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of T2 Biosystems by 3.4% in the first quarter. Vanguard Group Inc. now owns 648,780 shares of the medical equipment provider’s stock valued at $3,413,000 after buying an additional 21,364 shares during the last quarter. 68.08% of the stock is currently owned by hedge funds and other institutional investors.
T2 Biosystems Company Profile
T2 Biosystems, Inc is an in vitro diagnostics company engaged in developing 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).
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