T2 Biosystems (TTOO) Downgraded to “Sell” at ValuEngine

ValuEngine lowered shares of T2 Biosystems (NASDAQ:TTOO) from a hold rating to a sell rating in a report published on Wednesday.

Other analysts have also issued research reports about the company. Zacks Investment Research raised T2 Biosystems from a hold rating to a buy rating and set a $7.25 price target for the company in a report on Thursday, March 22nd. HC Wainwright reissued a buy rating and set a $8.00 price target on shares of T2 Biosystems in a report on Thursday, January 25th. Finally, Goldman Sachs began coverage on T2 Biosystems in a report on Monday, January 29th. They set a neutral rating and a $5.20 price target for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $6.12.

NASDAQ:TTOO opened at $6.97 on Wednesday. T2 Biosystems has a 52-week low of $2.50 and a 52-week high of $7.53. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.86 and a quick ratio of 0.83. The stock has a market cap of $257.90, a price-to-earnings ratio of -3.32 and a beta of 1.20.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTOO. Point72 Asset Management L.P. bought a new position in shares of T2 Biosystems in the third quarter worth about $630,000. Geode Capital Management LLC boosted its stake in shares of T2 Biosystems by 41.9% in the fourth quarter. Geode Capital Management LLC now owns 134,470 shares of the medical equipment provider’s stock worth $554,000 after acquiring an additional 39,722 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in shares of T2 Biosystems by 72.2% in the fourth quarter. Renaissance Technologies LLC now owns 83,500 shares of the medical equipment provider’s stock worth $344,000 after acquiring an additional 35,000 shares during the period. 52.33% of the stock is owned by hedge funds and other 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for T2 Biosystems (NASDAQ:TTOO)

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