T2 Biosystems Inc. (NASDAQ:TTOO) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $5.11 and last traded at $5.50, with a volume of 392,442 shares changing hands. The stock had previously closed at $7.61.

A number of research analysts have recently issued reports on the stock. Leerink Swann reiterated a “buy” rating on shares of T2 Biosystems in a report on Monday, May 2nd. Morgan Stanley reiterated a “hold” rating on shares of T2 Biosystems in a report on Monday, May 2nd. Canaccord Genuity reiterated a “buy” rating on shares of T2 Biosystems in a report on Sunday, May 29th. Zacks Investment Research upgraded shares of T2 Biosystems from a “sell” rating to a “hold” rating in a report on Friday, May 6th. Finally, Cantor Fitzgerald reiterated a “buy” rating on shares of T2 Biosystems in a report on Tuesday, May 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $10.90.

The stock’s 50 day moving average is $8.56 and its 200-day moving average is $9.01. The firm’s market cap is $127.49 million.

T2 Biosystems (NASDAQ:TTOO) last issued its quarterly earnings results on Monday, May 2nd. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.54) by $0.01. During the same period last year, the business posted ($0.53) earnings per share. The company had revenue of $1.10 million for the quarter. The business’s revenue for the quarter was up 485.1% compared to the same quarter last year. On average, equities research analysts expect that T2 Biosystems Inc. will post ($2.17) EPS for the current year.

In related news, SVP Rahul Dhanda sold 3,589 shares of the stock in a transaction dated Thursday, June 30th. The shares were sold at an average price of $8.16, for a total value of $29,286.24. Following the completion of the transaction, the senior vice president now directly owns 3,589 shares in the company, valued at approximately $29,286.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

A hedge fund recently raised its stake in T2 Biosystems stock. Aisling Capital LLC boosted its stake in shares of T2 Biosystems Inc. (NASDAQ:TTOO) by 12.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,830,992 shares of the company’s stock after buying an additional 307,692 shares during the period. T2 Biosystems makes up 5.3% of Aisling Capital LLC’s portfolio, making the stock its 6th largest position. Aisling Capital LLC owned 13.89% of T2 Biosystems worth $30,971,000 as of its most recent filing with the SEC.

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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