Zacks Investment Research downgraded shares of T2 Biosystems Inc (NASDAQ:TTOO) from a hold rating to a sell rating in a research note released on Wednesday morning.

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. “

Several other equities research analysts have also commented on the company. Morgan Stanley lowered T2 Biosystems from an equal weight rating to an underweight rating and set a $5.00 target price on the stock. in a research report on Tuesday, March 14th. Cantor Fitzgerald set a $7.00 target price on T2 Biosystems and gave the company a buy rating in a research report on Wednesday, March 8th. Canaccord Genuity set a $9.00 target price on T2 Biosystems and gave the company a buy rating in a research report on Tuesday, February 14th. Finally, WBB Securities restated a buy rating and set a $12.00 target price on shares of T2 Biosystems in a research report on Sunday, February 5th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $6.89.

Analyst Recommendations for T2 Biosystems (NASDAQ:TTOO)

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T2 Biosystems (NASDAQ:TTOO) opened at 5.88 on Wednesday. The company’s market capitalization is $179.23 million. The firm has a 50-day moving average price of $5.81 and a 200-day moving average price of $6.09. T2 Biosystems has a 1-year low of $4.89 and a 1-year high of $11.30.

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In other news, Director David B. Elsbree purchased 10,000 shares of the business’s stock in a transaction on Wednesday, March 15th. The shares were acquired at an average price of $5.97 per share, for a total transaction of $59,700.00. Following the completion of the acquisition, the director now owns 40,000 shares in the company, valued at $238,800. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 43.20% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its position in shares of T2 Biosystems by 2.7% in the fourth quarter. State Street Corp now owns 195,138 shares of the company’s stock valued at $1,027,000 after buying an additional 5,205 shares during the last quarter. Tiger Management L.L.C. raised its position in shares of T2 Biosystems by 5.0% in the third quarter. Tiger Management L.L.C. now owns 1,307,639 shares of the company’s stock valued at $9,467,000 after buying an additional 62,501 shares during the last quarter. Lagoda Investment Management L.P. purchased a new position in shares of T2 Biosystems during the third quarter valued at about $13,625,000. Finally, Senvest Management LLC raised its position in shares of T2 Biosystems by 14.9% in the third quarter. Senvest Management LLC now owns 1,898,080 shares of the company’s stock valued at $13,742,000 after buying an additional 246,849 shares during the last quarter. Institutional investors and hedge funds own 68.08% 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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