T2 Biosystems Inc. (NASDAQ:TTOO) Given Average Recommendation of “Hold” by Brokerages
T2 Biosystems Inc. (NASDAQ:TTOO) has been given an average recommendation of “Hold” by the ten brokerages that are presently covering the company. One investment analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $10.10.
TTOO has been the topic of a number of recent analyst reports. Zacks Investment Research raised T2 Biosystems from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research report on Tuesday, July 5th. WBB Securities raised T2 Biosystems from a “speculative buy” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Wednesday, June 22nd. Cantor Fitzgerald reissued a “buy” rating and issued a $15.00 target price on shares of T2 Biosystems in a research report on Tuesday, June 21st. Canaccord Genuity reissued a “buy” rating on shares of T2 Biosystems in a research report on Sunday, May 29th. Finally, Leerink Swann reissued a “buy” rating on shares of T2 Biosystems in a research report on Sunday, July 10th.
In other T2 Biosystems news, SVP Rahul Dhanda sold 3,589 shares of the company’s stock in a transaction on Thursday, June 30th. The shares were sold at an average price of $8.16, for a total value of $29,286.24. Following the sale, the senior vice president now directly owns 3,589 shares of the company’s stock, valued at $29,286.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 43.20% of the stock is currently owned by company insiders.
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Large investors have recently bought and sold shares of the company. KCG Holdings Inc. purchased a new stake in T2 Biosystems during the second quarter valued at about $100,000. Teachers Advisors Inc. raised its stake in T2 Biosystems by 20.8% in the second quarter. Teachers Advisors Inc. now owns 20,063 shares of the company’s stock valued at $158,000 after buying an additional 3,448 shares during the last quarter. California State Teachers Retirement System raised its stake in T2 Biosystems by 33.6% in the second quarter. California State Teachers Retirement System now owns 30,640 shares of the company’s stock valued at $242,000 after buying an additional 7,711 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in T2 Biosystems by 10.9% in the first quarter. TIAA CREF Investment Management LLC now owns 34,623 shares of the company’s stock valued at $341,000 after buying an additional 3,417 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in T2 Biosystems by 17.1% in the second quarter. Bank of New York Mellon Corp now owns 44,105 shares of the company’s stock valued at $348,000 after buying an additional 6,435 shares during the last quarter. 80.44% of the stock is currently owned by institutional investors and hedge funds.
T2 Biosystems (NASDAQ:TTOO) remained flat at $6.50 during midday trading on Tuesday. 54,896 shares of the stock were exchanged. T2 Biosystems has a 12-month low of $4.92 and a 12-month high of $12.30. The stock has a 50 day moving average price of $6.82 and a 200 day moving average price of $7.97. The firm’s market capitalization is $158.37 million.
T2 Biosystems (NASDAQ:TTOO) last issued its quarterly earnings results on Monday, August 1st. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by $0.02. The business had revenue of $0.99 million for the quarter, compared to analyst estimates of $1.53 million. T2 Biosystems had a negative return on equity of 159.25% and a negative net margin of 1,233.67%. The business’s revenue for the quarter was up 75.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.54) earnings per share. On average, equities analysts anticipate that T2 Biosystems will post ($2.21) earnings per share for the current fiscal year.
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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