T2 Biosystems Inc. (TTOO) Trading Down 4.2%
T2 Biosystems Inc. (NASDAQ:TTOO) shares traded down 4.2% on Wednesday . The stock traded as low as $7.03 and last traded at $7.04, with a volume of 68,775 shares changing hands. The stock had previously closed at $7.35.
TTOO has been the topic of a number of recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating on shares of T2 Biosystems in a research report on Tuesday, May 3rd. Zacks Investment Research cut shares of T2 Biosystems from a “hold” rating to a “sell” rating in a research report on Wednesday, July 27th. WBB Securities reaffirmed a “buy” rating and issued a $11.00 target price on shares of T2 Biosystems in a research report on Friday, July 8th. Leerink Swann reaffirmed a “buy” rating on shares of T2 Biosystems in a research report on Monday, May 2nd. Finally, Janney Montgomery Scott reaffirmed a “hold” rating on shares of T2 Biosystems in a research report on Saturday, July 9th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $10.65.
The stock has a 50 day moving average price of $6.23 and a 200 day moving average price of $8.15. The firm’s market cap is $165.92 million.
T2 Biosystems (NASDAQ:TTOO) last announced its quarterly earnings results on Monday, August 1st. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by $0.02. The firm earned $0.99 million during the quarter, compared to analyst estimates of $1.53 million. During the same period in the prior year, the company posted ($0.54) EPS. The firm’s quarterly revenue was up 75.5% on a year-over-year basis. Equities research analysts anticipate that T2 Biosystems Inc. will post ($2.20) EPS for the current fiscal year.
In related news, SVP Rahul Dhanda sold 3,589 shares of T2 Biosystems stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $8.16, for a total transaction of $29,286.24. Following the completion of the sale, the senior vice president now owns 3,589 shares in the company, valued at approximately $29,286.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
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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