T2 Biosystems (NASDAQ:TTOO) Receives New Coverage from Analysts at StockNews.com

StockNews.com assumed coverage on shares of T2 Biosystems (NASDAQ:TTOOGet Rating) in a research note issued on Sunday. The brokerage set a “hold” rating on the medical equipment provider’s stock.

Several other research analysts have also issued reports on the company. Canaccord Genuity Group dropped their price objective on T2 Biosystems from $3.00 to $1.50 and set a “buy” rating for the company in a research note on Friday, February 18th. Alliance Global Partners upgraded T2 Biosystems from a “neutral” rating to a “buy” rating and set a $0.70 target price for the company in a research note on Friday, February 18th.

T2 Biosystems stock opened at $0.21 on Friday. The stock has a fifty day moving average price of $0.38 and a two-hundred day moving average price of $0.45. T2 Biosystems has a 52-week low of $0.19 and a 52-week high of $1.48. The firm has a market capitalization of $35.73 million, a P/E ratio of -0.63 and a beta of 0.50.

T2 Biosystems (NASDAQ:TTOOGet Rating) last released its quarterly earnings data on Thursday, May 5th. The medical equipment provider reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.03). T2 Biosystems had a negative return on equity of 1,278.55% and a negative net margin of 194.37%.

Several large investors have recently made changes to their positions in the company. Barclays PLC increased its position in T2 Biosystems by 277.5% in the third quarter. Barclays PLC now owns 29,359 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 21,581 shares during the period. Geode Capital Management LLC increased its position in T2 Biosystems by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,516,085 shares of the medical equipment provider’s stock worth $1,387,000 after purchasing an additional 23,473 shares during the period. Commonwealth Equity Services LLC increased its position in T2 Biosystems by 45.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 89,510 shares of the medical equipment provider’s stock worth $46,000 after purchasing an additional 28,000 shares during the period. McAdam LLC increased its position in T2 Biosystems by 50.5% in the fourth quarter. McAdam LLC now owns 113,201 shares of the medical equipment provider’s stock worth $58,000 after purchasing an additional 38,000 shares during the period. Finally, State Street Corp increased its position in T2 Biosystems by 11.4% in the first quarter. State Street Corp now owns 646,500 shares of the medical equipment provider’s stock worth $339,000 after purchasing an additional 66,052 shares during the period. Institutional investors own 11.23% of the company’s stock.

T2 Biosystems Company Profile (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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