T2 Biosystems (NASDAQ:TTOO) Stock Price Down 6.8%

T2 Biosystems Inc (NASDAQ:TTOO)’s stock price traded down 6.8% on Thursday . The stock traded as low as $0.71 and last traded at $0.69, 30,494 shares changed hands during trading. A decline of 98% from the average session volume of 1,433,578 shares. The stock had previously closed at $0.74.

Several analysts have recently weighed in on the company. HC Wainwright reissued a “hold” rating on shares of T2 Biosystems in a report on Wednesday. Alliance Global Partners lowered T2 Biosystems from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $5.00 to $0.40 in a report on Thursday, August 1st. Cantor Fitzgerald lowered T2 Biosystems from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 31st. Janney Montgomery Scott lowered T2 Biosystems from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st. Finally, ValuEngine raised T2 Biosystems from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $6.19.

The stock’s 50 day simple moving average is $1.44. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.58. The company has a market capitalization of $32.83 million, a price-to-earnings ratio of -0.75 and a beta of 1.61.

T2 Biosystems (NASDAQ:TTOO) last announced 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 net margin of 722.70% and a negative return on equity of 1,263.94%. The company had revenue of $1.80 million during the quarter, compared to analyst estimates of $1.95 million. During the same period in the prior year, the firm earned ($0.32) EPS. T2 Biosystems’s quarterly revenue was down 53.8% compared to the same quarter last year. On average, equities analysts anticipate that T2 Biosystems Inc will post -1.2 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cable Hill Partners LLC raised its position in T2 Biosystems by 100.0% in the 1st quarter. Cable Hill Partners LLC now owns 10,000 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 5,000 shares during the last quarter. Focused Wealth Management Inc raised its position in T2 Biosystems by 48.7% in the 1st quarter. Focused Wealth Management Inc now owns 30,550 shares of the medical equipment provider’s stock valued at $80,000 after purchasing an additional 10,000 shares during the last quarter. Lau Associates LLC bought a new position in T2 Biosystems in the 1st quarter valued at $33,000. Two Sigma Investments LP raised its position in T2 Biosystems by 34.8% in the 4th quarter. Two Sigma Investments LP now owns 52,082 shares of the medical equipment provider’s stock valued at $157,000 after purchasing an additional 13,435 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in T2 Biosystems by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 375,582 shares of the medical equipment provider’s stock valued at $1,130,000 after purchasing an additional 13,552 shares during the last quarter. Hedge funds and other institutional investors own 46.15% 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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