T2 Biosystems Inc. (TTOO) Trading 4.3% Higher
T2 Biosystems Inc. (NASDAQ:TTOO)’s share price traded up 4.3% during mid-day trading on Tuesday . The stock traded as high as $7.34 and last traded at $7.28, with a volume of 95,686 shares trading hands. The stock had previously closed at $6.98.
Several equities research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed a “buy” rating on shares of T2 Biosystems in a research report on Tuesday, May 3rd. Canaccord Genuity reaffirmed a “buy” rating on shares of T2 Biosystems in a research report on Tuesday, May 3rd. Leerink Swann reaffirmed a “buy” rating on shares of T2 Biosystems in a research report on Monday, May 2nd. Morgan Stanley reaffirmed a “hold” rating on shares of T2 Biosystems in a research report on Monday, May 2nd. Finally, Zacks Investment Research raised shares of T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Friday, May 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. T2 Biosystems currently has a consensus rating of “Hold” and an average price target of $10.65.
The stock has a 50 day moving average of $6.29 and a 200-day moving average of $8.17. The stock’s market capitalization is $179.08 million.
T2 Biosystems (NASDAQ:TTOO) last posted its earnings results on Monday, August 1st. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by $0.02. The business earned $0.99 million during the quarter, compared to the consensus estimate of $1.53 million. T2 Biosystems’s revenue was up 75.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.54) EPS. On average, equities research analysts predict that T2 Biosystems Inc. will post ($2.20) 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 dated Thursday, June 30th. The stock was sold at an average price of $8.16, for a total value of $29,286.24. Following the completion of the sale, 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 filing with the SEC, which is available through this hyperlink.
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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