T2 Biosystems, Inc. (NASDAQ:TTOO) shares gapped down before the market opened on Monday . The stock had previously closed at $4.93, but opened at $4.52. T2 Biosystems shares last traded at $4.60, with a volume of 324,365 shares traded.
Several research analysts have recently weighed in on the company. Zacks Investment Research cut T2 Biosystems from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. ValuEngine raised T2 Biosystems from a “strong sell” rating to a “sell” rating in a research report on Wednesday, September 13th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. T2 Biosystems currently has a consensus rating of “Hold” and a consensus price target of $6.75.
The firm has a 50-day moving average of $4.09 and a 200-day moving average of $4.11. The stock’s market capitalization is $136.90 million.
T2 Biosystems (NASDAQ:TTOO) last issued its earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.01). T2 Biosystems had a negative net margin of 1,473.71% and a negative return on equity of 178.83%. The firm had revenue of $0.96 million during the quarter, compared to the consensus estimate of $0.79 million. Equities analysts anticipate that T2 Biosystems, Inc. will post ($1.93) EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the stock. LMR Partners LLP bought a new stake in T2 Biosystems in the 2nd quarter valued at about $180,000. Susquehanna International Group LLP increased its position in T2 Biosystems by 931.3% in the 2nd quarter. Susquehanna International Group LLP now owns 85,620 shares of the medical equipment provider’s stock valued at $275,000 after buying an additional 95,920 shares in the last quarter. Bank of New York Mellon Corp increased its position in T2 Biosystems by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 56,415 shares of the medical equipment provider’s stock valued at $297,000 after buying an additional 201 shares in the last quarter. Essex Investment Management Co. LLC increased its position in T2 Biosystems by 221.8% in the 2nd quarter. Essex Investment Management Co. LLC now owns 208,190 shares of the medical equipment provider’s stock valued at $668,000 after buying an additional 143,495 shares in the last quarter. Finally, Lagoda Investment Management L.P. increased its position in T2 Biosystems by 15.4% in the 2nd quarter. Lagoda Investment Management L.P. now owns 1,975,921 shares of the medical equipment provider’s stock valued at $6,343,000 after buying an additional 264,337 shares in the last quarter. 60.55% of the stock is owned by institutional investors and hedge funds.
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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