T2 Biosystems (NASDAQ:TTOO) Announces Earnings Results, Misses Expectations By $0.03 EPS

T2 Biosystems (NASDAQ:TTOO – Get Rating) posted its quarterly earnings results on Thursday. The medical equipment provider reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03), MarketWatch Earnings reports. T2 Biosystems had a negative return on equity of 1,278.55% and a negative net margin of 175.50%.

NASDAQ TTOO traded down $0.08 on Friday, hitting $0.30. The company had a trading volume of 3,239,422 shares, compared to its average volume of 875,719. The company’s fifty day moving average price is $0.44 and its 200-day moving average price is $0.51. T2 Biosystems has a 12-month low of $0.30 and a 12-month high of $1.48.

TTOO has been the subject of a number of recent research reports. Alliance Global Partners raised shares of T2 Biosystems from a “neutral” rating to a “buy” rating and set a $0.70 price target for the company in a research report on Friday, February 18th. StockNews.com initiated coverage on shares of T2 Biosystems in a research report on Thursday. They set a “hold” rating for the company. Finally, Canaccord Genuity Group reduced their price target on shares of T2 Biosystems from $3.00 to $1.50 and set a “buy” rating for the company in a research report on Friday, February 18th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $1.55.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Levin Capital Strategies L.P. increased its holdings in T2 Biosystems by 383.8% in the 4th quarter. Levin Capital Strategies L.P. now owns 113,451 shares of the medical equipment provider’s stock worth $59,000 after acquiring an additional 90,000 shares in the last quarter. Virtu Financial LLC increased its holdings in T2 Biosystems by 267.8% in the 4th quarter. Virtu Financial LLC now owns 272,090 shares of the medical equipment provider’s stock worth $140,000 after acquiring an additional 198,118 shares in the last quarter. Finally, Morgan Stanley increased its holdings in T2 Biosystems by 145.7% in the 1st quarter. Morgan Stanley now owns 171,988 shares of the medical equipment provider’s stock worth $278,000 after acquiring an additional 101,984 shares in the last quarter. 11.23% of the stock is owned by institutional investors.

About T2 Biosystems (Get Rating)

T2 Biosystems, Inc, an in vitro diagnostics company, develops 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.

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