T2 Biosystems (NASDAQ:TTOO) Earns Sell Rating from Analysts at StockNews.com

Posted by on Aug 27th, 2023

Research analysts at StockNews.com began coverage on shares of T2 Biosystems (NASDAQ:TTOO – Get Free Report) in a report issued on Sunday. The firm set a “sell” rating on the medical equipment provider’s stock.

T2 Biosystems Price Performance

Shares of TTOO opened at $0.37 on Friday. T2 Biosystems has a 12-month low of $0.05 and a 12-month high of $6.60. The business’s 50 day moving average is $0.21 and its 200 day moving average is $0.35.

T2 Biosystems (NASDAQ:TTOO – Get Free Report) last released its quarterly earnings data on Monday, August 7th. The medical equipment provider reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $1.96 million during the quarter.

Institutional Trading of T2 Biosystems

A number of large investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in T2 Biosystems by 11.4% in the 1st quarter. State Street Corp now owns 646,500 shares of the medical equipment provider’s stock worth $339,000 after acquiring an additional 66,052 shares during the last quarter. Jane Street Group LLC bought a new stake in T2 Biosystems in the 3rd quarter worth approximately $28,000. Virtu Financial LLC increased its stake in T2 Biosystems by 1,763.1% in the 2nd quarter. Virtu Financial LLC now owns 323,427 shares of the medical equipment provider’s stock worth $52,000 after acquiring an additional 306,067 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of T2 Biosystems by 449.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 538,540 shares of the medical equipment provider’s stock valued at $61,000 after purchasing an additional 440,531 shares during the last quarter. Finally, Anson Funds Management LP bought a new position in shares of T2 Biosystems during the 1st quarter valued at approximately $242,000. Institutional investors own 27.55% of the company’s stock.

T2 Biosystems Company Profile

(Get Free Report)

T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States and internationally. Its technology enables detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, cerebral spinal fluid, and urine.

Further Reading

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