T2 Biosystems (NASDAQ:TTOO) Share Price Passes Above 50 Day Moving Average of $1.61

Shares of T2 Biosystems, Inc. (NASDAQ:TTOOGet Rating) passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.61 and traded as high as $1.83. T2 Biosystems shares last traded at $1.82, with a volume of 43,805 shares.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Canaccord Genuity Group reissued a “hold” rating on shares of T2 Biosystems in a report on Friday, October 14th. Canaccord Genuity Group cut shares of T2 Biosystems from a “buy” rating to a “hold” rating and dropped their target price for the stock from $12.50 to $2.50 in a report on Friday, October 14th. Finally, StockNews.com started coverage on shares of T2 Biosystems in a report on Thursday, October 20th. They issued a “sell” rating for the company. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.75.

T2 Biosystems Stock Up 2.8 %

The company has a 50 day moving average price of $1.61 and a 200-day moving average price of $4.87. The company has a market cap of $12.83 million, a price-to-earnings ratio of -0.11 and a beta of 0.21.

T2 Biosystems (NASDAQ:TTOOGet Rating) last released its quarterly earnings data on Thursday, November 10th. The medical equipment provider reported ($2.95) earnings per share (EPS) for the quarter. The firm had revenue of $3.68 million during the quarter.

Institutional Trading of T2 Biosystems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Banco Bilbao Vizcaya Argentaria S.A. increased its position in T2 Biosystems by 318.0% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 236,605 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 180,000 shares during the period. Jane Street Group LLC acquired a new stake in T2 Biosystems during the 3rd quarter valued at approximately $28,000. Virtu Financial LLC increased its position in T2 Biosystems by 1,763.1% during the 2nd quarter. Virtu Financial LLC now owns 323,427 shares of the medical equipment provider’s stock valued at $52,000 after purchasing an additional 306,067 shares during the period. Bank of New York Mellon Corp increased its position in T2 Biosystems by 449.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 538,540 shares of the medical equipment provider’s stock valued at $61,000 after purchasing an additional 440,531 shares during the period. Finally, State Street Corp increased its position in T2 Biosystems by 11.4% during the 1st quarter. State Street Corp now owns 646,500 shares of the medical equipment provider’s stock valued at $339,000 after purchasing an additional 66,052 shares during the period.

About T2 Biosystems

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T2 Biosystems, Inc engages in the development of a proprietary technology platform. It offers the T2 Magnetic Resonance technology, which enables detection of pathogens, biomarkers, and other abnormalities in a range of unpurified patient sample types. The firm’s products include the T2Dx Instrument, the T2Candida Panel, the T2Bacteria Panel, the T2Resistance Panel, and the T2SARS-CoV-2 Panel.

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