T2 Biosystems (NASDAQ:TTOO) Trading Up 5.2%

T2 Biosystems Inc (NASDAQ:TTOO) was up 5.2% on Friday . The stock traded as high as $0.62 and last traded at $0.61, approximately 1,571,410 shares were traded during mid-day trading. An increase of 88% from the average daily volume of 835,790 shares. The stock had previously closed at $0.58.

Several equities research analysts have recently weighed in on TTOO shares. Janney Montgomery Scott downgraded T2 Biosystems from a “buy” rating to a “neutral” rating in a research report on Wednesday. Cantor Fitzgerald downgraded T2 Biosystems from an “overweight” rating to a “neutral” rating in a research report on Wednesday. HC Wainwright downgraded T2 Biosystems from a “buy” rating to a “neutral” rating in a research report on Wednesday. Alliance Global Partners downgraded T2 Biosystems from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $5.00 to $0.40 in a research report on Thursday. Finally, ValuEngine raised T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $6.19.

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.81. The firm has a 50 day moving average price of $1.60. The firm has a market cap of $25.63 million, a price-to-earnings ratio of -0.48 and a beta of 1.63.

T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings results on Tuesday, July 30th. The medical equipment provider reported ($0.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.03). T2 Biosystems had a negative return on equity of 506.84% and a negative net margin of 722.70%. The business had revenue of $1.80 million during the quarter, compared to analyst estimates of $1.95 million. During the same quarter last year, the firm posted ($0.32) EPS. The company’s revenue was down 53.8% compared to the same quarter last year. Research analysts forecast that T2 Biosystems Inc will post -1.22 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the stock. Cable Hill Partners LLC raised its stake in T2 Biosystems by 100.0% during the first quarter. Cable Hill Partners LLC now owns 10,000 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 5,000 shares in the last quarter. Wiley BROS. Aintree Capital LLC acquired a new stake in T2 Biosystems during the first quarter valued at approximately $26,000. Lau Associates LLC acquired a new stake in T2 Biosystems during the first quarter valued at approximately $33,000. Jane Street Group LLC acquired a new stake in T2 Biosystems during the fourth quarter valued at approximately $67,000. Finally, Focused Wealth Management Inc raised its stake in T2 Biosystems by 48.7% during the first quarter. Focused Wealth Management Inc now owns 30,550 shares of the medical equipment provider’s stock valued at $80,000 after buying an additional 10,000 shares in the last quarter. Institutional investors and hedge funds own 46.19% of the company’s stock.

T2 Biosystems Company Profile (NASDAQ:TTOO)

T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States and internationally. 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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