T2 Biosystems, Inc. (TTOO) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of T2 Biosystems, Inc. (NASDAQ:TTOO) from a sell rating to a hold rating in a research report released on Thursday.

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. “

Separately, ValuEngine upgraded T2 Biosystems from a strong sell rating to a sell rating in a research report on Wednesday, September 13th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. T2 Biosystems currently has a consensus rating of Hold and a consensus price target of $6.83.

T2 Biosystems (NASDAQ TTOO) opened at 4.47 on Thursday. The stock’s market capitalization is $137.52 million. T2 Biosystems has a 1-year low of $2.50 and a 1-year high of $7.26. The company has a 50-day moving average price of $4.53 and a 200 day moving average price of $3.98.

T2 Biosystems (NASDAQ:TTOO) last issued its quarterly earnings data on Thursday, August 3rd. The medical equipment provider reported ($0.50) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($0.01). The business had revenue of $0.96 million for the quarter, compared to analyst estimates of $0.79 million. T2 Biosystems had a negative return on equity of 178.83% and a negative net margin of 1,473.71%. On average, equities analysts predict that T2 Biosystems will post ($1.94) EPS for the current year.

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A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTOO. Bank of New York Mellon Corp lifted its position in T2 Biosystems by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 56,415 shares of the medical equipment provider’s stock worth $297,000 after purchasing an additional 201 shares during the period. Essex Investment Management Co. LLC lifted its position in T2 Biosystems by 221.8% in the second quarter. Essex Investment Management Co. LLC now owns 208,190 shares of the medical equipment provider’s stock worth $668,000 after purchasing an additional 143,495 shares during the period. LMR Partners LLP acquired a new stake in T2 Biosystems in the second quarter worth approximately $180,000. Senvest Management LLC lifted its position in T2 Biosystems by 15.2% in the second quarter. Senvest Management LLC now owns 2,837,946 shares of the medical equipment provider’s stock worth $9,110,000 after purchasing an additional 373,876 shares during the period. Finally, Goldman Sachs Group Inc. lifted its position in T2 Biosystems by 0.4% in the second quarter. Goldman Sachs Group Inc. now owns 4,270,632 shares of the medical equipment provider’s stock worth $13,709,000 after purchasing an additional 18,000 shares during the period. Hedge funds and other institutional investors own 53.02% of the company’s stock.

About T2 Biosystems

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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