Shares of T2 Biosystems (NASDAQ:TTOO) have earned a consensus rating of “Hold” from the seven analysts that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $5.94.
Several analysts have weighed in on the company. ValuEngine raised T2 Biosystems from a “sell” rating to a “hold” rating in a report on Thursday, April 12th. Zacks Investment Research cut T2 Biosystems from a “buy” rating to a “hold” rating in a report on Friday, March 23rd. HC Wainwright raised their price target on T2 Biosystems from $8.00 to $8.50 and gave the company a “buy” rating in a report on Thursday, March 29th. Finally, Goldman Sachs assumed coverage on T2 Biosystems in a report on Monday, January 29th. They issued a “neutral” rating and a $5.20 price target on the stock.
NASDAQ:TTOO opened at $6.83 on Wednesday. T2 Biosystems has a twelve month low of $2.50 and a twelve month high of $7.53. The stock has a market capitalization of $249.26, a price-to-earnings ratio of -3.25 and a beta of 1.19. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.83 and a current ratio of 0.86.
Several hedge funds and other institutional investors have recently made changes to their positions in TTOO. Renaissance Technologies LLC raised its holdings in shares of T2 Biosystems by 72.2% during the 4th quarter. Renaissance Technologies LLC now owns 83,500 shares of the medical equipment provider’s stock valued at $344,000 after buying an additional 35,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of T2 Biosystems by 41.9% during the 4th quarter. Geode Capital Management LLC now owns 134,470 shares of the medical equipment provider’s stock valued at $554,000 after buying an additional 39,722 shares in the last quarter. Finally, Point72 Asset Management L.P. purchased a new position in shares of T2 Biosystems during the 3rd quarter valued at about $630,000. 52.33% of the stock is currently owned by institutional investors.
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T2 Biosystems Company Profile
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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