T2 Biosystems (NASDAQ:TTOO) Now Covered by StockNews.com

Equities research analysts at StockNews.com began coverage on shares of T2 Biosystems (NASDAQ:TTOOGet Rating) in a research note issued on Wednesday. The firm set a “hold” rating on the medical equipment provider’s stock.

NASDAQ TTOO opened at $0.18 on Wednesday. The company has a 50-day moving average of $0.27 and a 200-day moving average of $0.39. The company has a market cap of $30.46 million, a P/E ratio of -0.54 and a beta of 0.53. T2 Biosystems has a 12 month low of $0.15 and a 12 month high of $1.27.

T2 Biosystems (NASDAQ:TTOOGet Rating) last released its quarterly earnings results on Thursday, May 5th. The medical equipment provider reported ($0.10) earnings per share for the quarter. The company had revenue of $7.23 million during the quarter. T2 Biosystems had a negative return on equity of 1,278.55% and a negative net margin of 194.37%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTOO. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 23,473 shares in the last quarter. Commonwealth Equity Services LLC grew 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 acquiring an additional 28,000 shares in the last quarter. McAdam LLC lifted its stake in shares of 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 buying an additional 38,000 shares during the last quarter. State Street Corp lifted its stake in shares of 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 buying an additional 66,052 shares during the last quarter. Finally, Avantax Planning Partners Inc. raised its stake in T2 Biosystems by 173.8% during the 4th quarter. Avantax Planning Partners Inc. now owns 110,273 shares of the medical equipment provider’s stock valued at $57,000 after purchasing an additional 70,000 shares during the last quarter. Institutional investors and hedge funds own 11.23% of the company’s stock.

About T2 Biosystems (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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