T2 Biosystems (NASDAQ:TTOO) Shares Gap Up to $0.82

T2 Biosystems Inc (NASDAQ:TTOO) gapped up before the market opened on Wednesday . The stock had previously closed at $0.71, but opened at $0.82. T2 Biosystems shares last traded at $0.77, with a volume of 1,512,382 shares traded.

A number of research firms recently commented on TTOO. Zacks Investment Research lowered T2 Biosystems from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Alliance Global Partners lowered T2 Biosystems from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $5.00 to $0.40 in a research report on Thursday, August 1st. Cantor Fitzgerald lowered T2 Biosystems from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 31st. ValuEngine upgraded T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, HC Wainwright restated a “hold” rating on shares of T2 Biosystems in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $6.19.

The firm has a market cap of $32.83 million, a price-to-earnings ratio of -0.59 and a beta of 1.61. The stock has a 50-day moving average of $1.49. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.81 and a quick ratio of 0.76.

T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings results on Tuesday, July 30th. The medical equipment provider reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.03). The business had revenue of $1.80 million for the quarter, compared to the consensus estimate of $1.95 million. T2 Biosystems had a negative return on equity of 506.84% and a negative net margin of 722.70%. The firm’s revenue was down 53.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.32) earnings per share. Sell-side analysts anticipate that T2 Biosystems Inc will post -1.22 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in TTOO. JPMorgan Chase & Co. boosted its position in T2 Biosystems by 7,546.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 732,400 shares of the medical equipment provider’s stock valued at $1,150,000 after buying an additional 722,822 shares during the last quarter. BlackRock Inc. boosted its position in T2 Biosystems by 6.3% in the 4th quarter. BlackRock Inc. now owns 2,056,222 shares of the medical equipment provider’s stock valued at $6,188,000 after buying an additional 121,836 shares during the last quarter. Gagnon Securities LLC boosted its position in T2 Biosystems by 124.3% in the 1st quarter. Gagnon Securities LLC now owns 149,065 shares of the medical equipment provider’s stock valued at $392,000 after buying an additional 82,605 shares during the last quarter. Deutsche Bank AG boosted its position in T2 Biosystems by 101.1% in the 4th quarter. Deutsche Bank AG now owns 157,785 shares of the medical equipment provider’s stock valued at $474,000 after buying an additional 79,311 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in T2 Biosystems by 29.6% in the 4th quarter. Bank of New York Mellon Corp now owns 103,582 shares of the medical equipment provider’s stock valued at $312,000 after buying an additional 23,662 shares during the last quarter. Hedge funds and other institutional investors own 46.15% of the company’s stock.

T2 Biosystems Company Profile (NASDAQ:TTOO)

T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States and internationally. It provides T2 Magnetic Resonance platform that enables detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, and urine.

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