Stock analysts at Goldman Sachs Group initiated coverage on shares of T2 Biosystems (NASDAQ:TTOO) in a research report issued on Monday, Marketbeat Ratings reports. The brokerage set a “neutral” rating and a $5.20 price target on the medical equipment provider’s stock. Goldman Sachs Group’s price objective points to a potential upside of 3.59% from the company’s current price.
TTOO has been the topic of several other reports. Zacks Investment Research downgraded shares of T2 Biosystems from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. HC Wainwright reissued a “buy” rating and set a $8.00 price objective on shares of T2 Biosystems in a research report on Thursday. Finally, Canaccord Genuity reissued a “buy” rating and set a $6.00 price objective on shares of T2 Biosystems in a research report on Monday, October 30th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. T2 Biosystems currently has an average rating of “Hold” and an average price target of $6.37.
Shares of T2 Biosystems (TTOO) traded down $0.21 during mid-day trading on Monday, reaching $5.02. 329,044 shares of the company traded hands, compared to its average volume of 282,765. T2 Biosystems has a one year low of $2.50 and a one year high of $6.99. The stock has a market cap of $187.37, a P/E ratio of -2.64 and a beta of 1.48. The company has a quick ratio of 5.28, a current ratio of 5.40 and a debt-to-equity ratio of 2.25.
A number of institutional investors and hedge funds have recently bought and sold shares of TTOO. Lagoda Investment Management L.P. lifted its stake in T2 Biosystems by 61.4% during the 3rd quarter. Lagoda Investment Management L.P. now owns 3,188,539 shares of the medical equipment provider’s stock valued at $13,392,000 after acquiring an additional 1,212,618 shares during the period. Senvest Management LLC lifted its stake in T2 Biosystems by 17.6% during the 3rd quarter. Senvest Management LLC now owns 3,337,946 shares of the medical equipment provider’s stock valued at $14,019,000 after acquiring an additional 500,000 shares during the period. Essex Investment Management Co. LLC lifted its stake in T2 Biosystems by 239.2% during the 3rd quarter. Essex Investment Management Co. LLC now owns 706,194 shares of the medical equipment provider’s stock valued at $2,966,000 after acquiring an additional 498,004 shares during the period. Point72 Asset Management L.P. bought a new position in T2 Biosystems during the 3rd quarter valued at about $630,000. Finally, Susquehanna International Group LLP lifted its stake in T2 Biosystems by 931.3% during the 2nd quarter. Susquehanna International Group LLP now owns 85,620 shares of the medical equipment provider’s stock valued at $275,000 after acquiring an additional 95,920 shares during the period. Institutional investors and hedge funds own 59.72% of the company’s stock.
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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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