Shares of T2 Biosystems, Inc. (NASDAQ:TTOO) have been assigned an average rating of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $6.83.
A number of analysts recently issued reports on the stock. Cantor Fitzgerald dropped their target price on shares of T2 Biosystems from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, May 3rd. BTIG Research raised shares of T2 Biosystems from a “sell” rating to a “neutral” rating and set a $4.00 target price for the company in a research report on Monday, May 8th. Finally, Zacks Investment Research raised shares of T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Saturday, May 6th.
In other news, Director David B. Elsbree acquired 10,000 shares of the stock in a transaction on Tuesday, June 6th. The stock was bought at an average price of $3.50 per share, with a total value of $35,000.00. Following the completion of the transaction, the director now directly owns 50,000 shares of the company’s stock, valued at $175,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired 20,000 shares of company stock valued at $70,330 in the last ninety days. 38.70% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Lagoda Investment Management L.P. increased its stake in shares of T2 Biosystems by 15.4% in the second quarter. Lagoda Investment Management L.P. now owns 1,975,921 shares of the medical equipment provider’s stock valued at $6,343,000 after buying an additional 264,337 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of T2 Biosystems by 0.4% in the second quarter. Goldman Sachs Group Inc. now owns 4,270,632 shares of the medical equipment provider’s stock valued at $13,709,000 after buying an additional 18,000 shares during the period. Senvest Management LLC increased its stake in shares of T2 Biosystems by 15.2% in the second quarter. Senvest Management LLC now owns 2,837,946 shares of the medical equipment provider’s stock valued at $9,110,000 after buying an additional 373,876 shares during the period. LMR Partners LLP purchased a new stake in shares of T2 Biosystems during the second quarter valued at about $180,000. Finally, Essex Investment Management Co. LLC increased its stake in shares of T2 Biosystems by 221.8% in the second quarter. Essex Investment Management Co. LLC now owns 208,190 shares of the medical equipment provider’s stock valued at $668,000 after buying an additional 143,495 shares during the period. 66.70% of the stock is owned by institutional investors.
Shares of T2 Biosystems (NASDAQ TTOO) traded up 19.57% on Friday, reaching $3.91. 544,641 shares of the company were exchanged. The stock’s market capitalization is $120.29 million. The company has a 50-day moving average price of $2.94 and a 200 day moving average price of $4.35. T2 Biosystems has a 1-year low of $2.50 and a 1-year high of $8.04.
T2 Biosystems (NASDAQ:TTOO) last posted its earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.50) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.49) by $0.01. The business had revenue of $0.96 million for the quarter, compared to analyst estimates of $0.79 million. T2 Biosystems had a negative return on equity of 178.83% and a negative net margin of 1,473.71%. On average, analysts forecast that T2 Biosystems will post ($1.93) EPS for the current fiscal year.
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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