T2 Biosystems Inc (NASDAQ:TTOO) – Equities researchers at Cantor Fitzgerald decreased their FY2017 EPS estimates for shares of T2 Biosystems in a research report issued to clients and investors on Tuesday, Zacks Investment Research reports. Cantor Fitzgerald analyst B. Brokmeier now anticipates that the medical equipment provider will post earnings of ($1.85) per share for the year, down from their previous estimate of ($1.50). Cantor Fitzgerald currently has a “Buy” rating and a $7.00 target price on the stock.
A number of other brokerages have also recently commented on TTOO. Zacks Investment Research raised shares of T2 Biosystems from a “sell” rating to a “hold” rating in a report on Thursday, April 6th. WBB Securities reaffirmed a “buy” rating and issued a $12.00 target price on shares of T2 Biosystems in a report on Sunday, February 5th. Canaccord Genuity set a $9.00 target price on shares of T2 Biosystems and gave the company a “buy” rating in a report on Tuesday, February 14th. Finally, Morgan Stanley cut shares of T2 Biosystems from an “equal weight” rating to an “underweight” rating and set a $5.00 target price on the stock. in a report on Tuesday, March 14th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $6.89.
T2 Biosystems (NASDAQ:TTOO) traded down 1.38% on Thursday, hitting $4.99. 56,092 shares of the company traded hands. The firm’s market capitalization is $152.57 million. T2 Biosystems has a 12 month low of $4.81 and a 12 month high of $10.02. The stock’s 50-day moving average is $5.52 and its 200 day moving average is $5.82.
In other news, Director David B. Elsbree acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were purchased at an average cost of $5.97 per share, for a total transaction of $59,700.00. Following the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $238,800. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 43.20% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Senvest Management LLC raised its position in T2 Biosystems by 14.9% in the third quarter. Senvest Management LLC now owns 1,898,080 shares of the medical equipment provider’s stock worth $13,742,000 after buying an additional 246,849 shares during the period. Lagoda Investment Management L.P. purchased a new position in T2 Biosystems during the third quarter worth $13,625,000. Tiger Management L.L.C. raised its position in T2 Biosystems by 5.0% in the third quarter. Tiger Management L.L.C. now owns 1,307,639 shares of the medical equipment provider’s stock worth $9,467,000 after buying an additional 62,501 shares during the period. State Street Corp raised its position in T2 Biosystems by 2.7% in the fourth quarter. State Street Corp now owns 195,138 shares of the medical equipment provider’s stock worth $1,027,000 after buying an additional 5,205 shares during the period. Finally, Teachers Advisors LLC raised its position in T2 Biosystems by 25.5% in the fourth quarter. Teachers Advisors LLC now owns 25,176 shares of the medical equipment provider’s stock worth $132,000 after buying an additional 5,113 shares during the period. Hedge funds and other institutional investors own 68.08% of the company’s stock.
About T2 Biosystems
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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