T2 Biosystems Inc. (TTOO) Trading Down 4.6%
Shares of T2 Biosystems Inc. (NASDAQ:TTOO) fell 4.6% 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.
Several research firms have recently weighed in on TTOO. Canaccord Genuity restated a “buy” rating on shares of T2 Biosystems in a research report on Sunday, May 29th. Janney Montgomery Scott restated a “hold” rating on shares of T2 Biosystems in a research report on Saturday, July 9th. Cantor Fitzgerald restated a “buy” rating on shares of T2 Biosystems in a research report on Saturday, July 9th. Leerink Swann restated a “buy” rating on shares of T2 Biosystems in a research report on Sunday. Finally, Zacks Investment Research upgraded shares of T2 Biosystems from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a research report on Tuesday, July 5th. One equities 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 a consensus target price of $10.90.
The company has a 50-day moving average price of $8.17 and a 200 day moving average price of $8.85. The firm’s market cap is $121.42 million.
T2 Biosystems (NASDAQ:TTOO) last posted its quarterly 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 period last year, the company earned ($0.53) earnings per share. The company’s revenue for the quarter was up 485.1% on a year-over-year basis. On average, equities analysts forecast that T2 Biosystems Inc. will post ($2.17) earnings per share for the current year.
In other T2 Biosystems news, SVP Rahul Dhanda sold 3,589 shares of the company’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 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 $29,286.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
A hedge fund recently raised its stake in T2 Biosystems stock. Aisling Capital LLC boosted its position in T2 Biosystems Inc. (NASDAQ:TTOO) by 12.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (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 makes up about 5.3% of Aisling Capital LLC’s investment 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).
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.