T2 Biosystems Inc. (TTOO) Trading Down 4.2%
T2 Biosystems Inc. (NASDAQ:TTOO)’s share price traded down 4.2% during mid-day trading on Wednesday . The stock traded as low as $7.03 and last traded at $7.04, with a volume of 68,775 shares trading hands. The stock had previously closed at $7.35.
Several equities analysts recently issued reports on the company. Canaccord Genuity reaffirmed a “buy” rating on shares of T2 Biosystems in a research report on Sunday, May 29th. Janney Montgomery Scott reiterated a “hold” rating on shares of T2 Biosystems in a research note on Saturday, July 9th. Cantor Fitzgerald reiterated a “buy” rating on shares of T2 Biosystems in a research note on Saturday, July 9th. Leerink Swann reiterated a “buy” rating on shares of T2 Biosystems in a research note on Sunday, July 10th. Finally, Zacks Investment Research lowered shares of T2 Biosystems from a “hold” rating to a “sell” rating in a research note on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $10.65.
The company has a 50 day moving average of $6.26 and a 200-day moving average of $8.16. The company’s market capitalization is $166.16 million.
T2 Biosystems (NASDAQ:TTOO) last posted its quarterly earnings data on Monday, August 1st. The company reported ($0.58) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by $0.02. The firm had revenue of $0.99 million for the quarter, compared to analyst estimates of $1.53 million. During the same period in the prior year, the firm earned ($0.54) EPS. The company’s revenue for the quarter was up 75.5% on a year-over-year basis. Equities research analysts anticipate that T2 Biosystems Inc. will post ($2.20) earnings per share for the current fiscal year.
In related news, SVP Rahul Dhanda sold 3,589 shares of the business’s stock in a transaction 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 directly owns 3,589 shares in the company, valued at $29,286.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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).