Zacks Investment Research lowered shares of T2 Biosystems (NASDAQ:TTOO) from a buy rating to a hold rating in a research report report published on Tuesday morning.
According to Zacks, “T2 Biosystems, Inc. is an in vitro diagnostics company. It has developed a technology platform that is designed to offer a rapid, sensitive and simple alternative to existing diagnostic methodologies. The Company uses its T2 Magnetic Resonance platform, or T2MR, that enables rapid detection of pathogens, biomarkers and other abnormalities in a variety of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets. It operates primarily in the United States. T2 Biosystems, Inc. is headquartered in Lexington, Massachusetts. “
Other research analysts have also recently issued research reports about the company. HC Wainwright reiterated a buy rating and issued a $8.00 target price on shares of T2 Biosystems in a research report on Thursday, January 25th. Goldman Sachs initiated coverage on T2 Biosystems in a research note on Monday, January 29th. They set a neutral rating and a $5.20 price target on the stock. Finally, ValuEngine raised T2 Biosystems from a strong sell rating to a sell rating in a research note on Monday, March 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. T2 Biosystems has an average rating of Hold and an average target price of $6.12.
T2 Biosystems stock opened at $6.54 on Tuesday. T2 Biosystems has a 12-month low of $2.50 and a 12-month high of $7.26. The company has a current ratio of 0.86, a quick ratio of 0.83 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $248.18, a price-to-earnings ratio of -3.11 and a beta of 1.20.
Several hedge funds have recently made changes to their positions in the company. Lagoda Investment Management L.P. boosted its stake in shares of T2 Biosystems by 61.4% during the third quarter. Lagoda Investment Management L.P. now owns 3,188,539 shares of the medical equipment provider’s stock valued at $13,392,000 after purchasing an additional 1,212,618 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of T2 Biosystems during the third quarter valued at about $630,000. Geode Capital Management LLC boosted its stake in shares of T2 Biosystems by 41.9% during the fourth quarter. Geode Capital Management LLC now owns 134,470 shares of the medical equipment provider’s stock valued at $554,000 after purchasing an additional 39,722 shares in the last quarter. Gagnon Securities LLC acquired a new stake in shares of T2 Biosystems during the third quarter valued at about $396,000. Finally, Renaissance Technologies LLC boosted its stake in shares of T2 Biosystems by 72.2% during the fourth quarter. Renaissance Technologies LLC now owns 83,500 shares of the medical equipment provider’s stock valued at $344,000 after purchasing an additional 35,000 shares in the last quarter. 52.32% of the stock is currently owned by hedge funds and other institutional investors.
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About T2 Biosystems
T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States. It provides T2 Magnetic Resonance platform that enables detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, and urine.
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