T2 Biosystems Inc. (TTOO) Stock Price Down 4.6%
T2 Biosystems Inc. (NASDAQ:TTOO)’s share price dropped 4.6% during trading on Tuesday . The stock traded as low as $4.95 and last traded at $4.98, with a volume of 188,957 shares changing hands. The stock had previously closed at $5.22.
TTOO has been the topic of several research analyst reports. Canaccord Genuity dropped their price objective on T2 Biosystems from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, April 12th. Cantor Fitzgerald reiterated a “buy” rating and issued a $15.00 price objective on shares of T2 Biosystems in a research note on Tuesday, June 21st. Leerink Swann reiterated an “outperform” rating and issued a $11.00 price objective on shares of T2 Biosystems in a research note on Monday, June 20th. WBB Securities upgraded T2 Biosystems from a “speculative buy” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Wednesday, June 22nd. Finally, Zacks Investment Research downgraded T2 Biosystems from a “hold” rating to a “sell” rating in a research note on Tuesday, April 19th. 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. The stock presently has an average rating of “Hold” and an average target price of $10.90.
The firm’s market cap is $120.45 million. The stock’s 50 day moving average price is $8.38 and its 200 day moving average price is $8.90.
T2 Biosystems (NASDAQ:TTOO) last announced its earnings results on Monday, May 2nd. The company reported ($0.55) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.54) by $0.01. The business had revenue of $1.10 million for the quarter. During the same quarter in the prior year, the business earned ($0.53) earnings per share. The firm’s revenue was up 485.1% compared to the same quarter last year. Equities analysts forecast that T2 Biosystems Inc. will post ($2.17) earnings per share for the current fiscal year.
In other T2 Biosystems news, SVP Rahul Dhanda sold 3,589 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $8.16, for a total transaction of $29,286.24. Following the completion of the transaction, the senior vice president now owns 3,589 shares of the company’s stock, valued at $29,286.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
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 disclosure with the Securities and Exchange Commission. 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 accounts for 5.3% of Aisling Capital LLC’s portfolio, making the stock its 6th largest position. Aisling Capital LLC owned about 13.89% of T2 Biosystems worth $30,971,000 at the end of the most recent reporting period.
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).
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.