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

Several equities research analysts have recently weighed in on TTOO shares. Cantor Fitzgerald reissued a “buy” rating on shares of T2 Biosystems in a research note on Tuesday, May 3rd. Zacks Investment Research raised T2 Biosystems from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a research note on Tuesday, July 5th. Morgan Stanley reissued a “hold” rating on shares of T2 Biosystems in a research note on Monday, May 2nd. BTIG Research cut T2 Biosystems from a “buy” rating to a “sell” rating and decreased their price target for the company from $12.00 to $4.00 in a research note on Friday. Finally, Canaccord Genuity decreased their price target on T2 Biosystems from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. T2 Biosystems presently has a consensus rating of “Hold” and an average target price of $10.90.

The firm’s market capitalization is $129.19 million. The company has a 50 day moving average of $8.47 and a 200-day moving average of $8.97.

T2 Biosystems (NASDAQ:TTOO) last issued its quarterly earnings results on Monday, May 2nd. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.54) by $0.01. The firm earned $1.10 million during the quarter. During the same period in the previous year, the company posted ($0.53) EPS. The business’s revenue was up 485.1% on a year-over-year basis. Equities analysts forecast that T2 Biosystems Inc. will post ($2.18) EPS for the current fiscal year.

In other news, SVP Rahul Dhanda sold 3,589 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $8.16, for a total value of $29,286.24. Following the sale, the senior vice president now directly owns 3,589 shares of the company’s stock, valued at approximately $29,286.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

An institutional investor recently raised its position in T2 Biosystems stock. Aisling Capital LLC increased its position in T2 Biosystems Inc. (NASDAQ:TTOO) by 12.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,830,992 shares of the company’s stock after buying an additional 307,692 shares during the period. T2 Biosystems comprises approximately 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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