T2 Biosystems Inc (NASDAQ:TTOO) was up 0.5% during mid-day trading on Tuesday . The company traded as high as $4.45 and last traded at $4.12. Approximately 169,600 shares changed hands during trading, a decline of 7% from the average daily volume of 182,692 shares. The stock had previously closed at $4.10.

A number of equities research analysts recently issued reports on TTOO shares. ValuEngine raised shares of T2 Biosystems from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 13th. HC Wainwright reissued a “buy” rating and issued a $8.00 target price on shares of T2 Biosystems in a research note on Friday, November 3rd. Zacks Investment Research raised shares of T2 Biosystems from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research note on Wednesday, November 8th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $6.00 target price on shares of T2 Biosystems in a research note on Monday, October 30th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. T2 Biosystems has a consensus rating of “Hold” and a consensus price target of $6.54.

The company has a market cap of $158.71, a P/E ratio of -2.44 and a beta of 1.48. The company has a current ratio of 5.40, a quick ratio of 5.28 and a debt-to-equity ratio of 2.25.

T2 Biosystems (NASDAQ:TTOO) last announced its earnings results on Thursday, November 2nd. The medical equipment provider reported ($0.45) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.49) by $0.04. T2 Biosystems had a negative net margin of 1,497.70% and a negative return on equity of 244.82%. The business had revenue of $1.11 million for the quarter, compared to the consensus estimate of $1.10 million. The company’s quarterly revenue was up 2.8% on a year-over-year basis. sell-side analysts expect that T2 Biosystems Inc will post -1.85 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Susquehanna International Group LLP grew its holdings in shares of T2 Biosystems by 931.3% in the second quarter. Susquehanna International Group LLP now owns 85,620 shares of the medical equipment provider’s stock worth $275,000 after purchasing an additional 95,920 shares during the last quarter. Gagnon Securities LLC bought a new position in shares of T2 Biosystems in the third quarter worth about $396,000. Point72 Asset Management L.P. bought a new position in shares of T2 Biosystems in the third quarter worth about $630,000. Essex Investment Management Co. LLC grew its holdings in shares of T2 Biosystems by 239.2% in the third quarter. Essex Investment Management Co. LLC now owns 706,194 shares of the medical equipment provider’s stock worth $2,966,000 after purchasing an additional 498,004 shares during the last quarter. Finally, Lagoda Investment Management L.P. grew its holdings in shares of T2 Biosystems by 15.4% in the second quarter. Lagoda Investment Management L.P. now owns 1,975,921 shares of the medical equipment provider’s stock worth $6,343,000 after purchasing an additional 264,337 shares during the last quarter. Hedge funds and other institutional investors own 59.73% of the company’s stock.

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T2 Biosystems Company Profile

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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