T2 Biosystems Inc. (NASDAQ:TTOO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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. “

Other analysts have also issued reports about the company. Leerink Swann reissued a “buy” rating on shares of T2 Biosystems in a report on Sunday, July 10th. Cantor Fitzgerald reissued a “buy” rating on shares of T2 Biosystems in a report on Saturday, July 9th. Janney Montgomery Scott reissued a “hold” rating on shares of T2 Biosystems in a report on Saturday, July 9th. Canaccord Genuity reissued a “buy” rating on shares of T2 Biosystems in a report on Sunday, May 29th. Finally, WBB Securities reissued a “buy” rating and set a $11.00 target price on shares of T2 Biosystems in a report on Friday, July 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $10.65.

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Shares of T2 Biosystems (NASDAQ:TTOO) opened at 6.50 on Thursday. The firm’s market capitalization is $158.37 million. T2 Biosystems has a 12 month low of $4.92 and a 12 month high of $12.30. The company has a 50-day moving average price of $6.82 and a 200-day moving average price of $7.95.

T2 Biosystems (NASDAQ:TTOO) last released its earnings results on Monday, August 1st. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by $0.02. The company 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% compared to the same quarter last year. During the same period last year, the company posted ($0.54) earnings per share. Equities analysts forecast that T2 Biosystems will post ($2.21) EPS for the current fiscal year.

In other T2 Biosystems news, SVP Rahul Dhanda sold 3,589 shares of the stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $8.16, for a total value of $29,286.24. Following the completion of the transaction, the senior vice president now directly owns 3,589 shares in the company, valued at $29,286.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 43.20% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of TTOO. TIAA CREF Investment Management LLC increased its position 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 in the last quarter. BlackRock Fund Advisors increased its position in T2 Biosystems by 1.8% in the first quarter. BlackRock Fund Advisors now owns 275,057 shares of the company’s stock valued at $2,712,000 after buying an additional 4,912 shares in the last quarter. State Street Corp increased its position in T2 Biosystems by 23.9% in the first quarter. State Street Corp now owns 93,844 shares of the company’s stock valued at $927,000 after buying an additional 18,126 shares in the last quarter. Goldman Sachs Group Inc. increased its position in T2 Biosystems by 1.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,223,416 shares of the company’s stock valued at $41,642,000 after buying an additional 48,529 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in T2 Biosystems by 2.3% in the first quarter. Geode Capital Management LLC now owns 100,150 shares of the company’s stock valued at $987,000 after buying an additional 2,238 shares in the last quarter. Hedge funds and other institutional investors own 80.44% of the company’s stock.

T2 Biosystems Company Profile

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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