T2 Biosystems (TTOO) Receiving Favorable News Coverage, Analysis Finds
News articles about T2 Biosystems (NASDAQ:TTOO) have been trending positive recently, according to Accern. The research firm identifies positive and negative press coverage by monitoring more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. T2 Biosystems earned a media sentiment score of 0.37 on Accern’s scale. Accern also assigned media headlines about the medical equipment provider an impact score of 0 out of 100, meaning that recent press coverage is extremely unlikely to have an effect on the company’s share price in the near term.
Here are some of the news stories that may have impacted Accern Sentiment’s rankings:
- Zacks: Brokerages Anticipate T2 Biosystems, Inc. (TTOO) Will Announce Earnings of -$0.49 Per Share (americanbankingnews.com)
- T2 Biosystems, Inc. (NASDAQ:TTOO) Announces Quarterly Earnings Results (americanbankingnews.com)
- T2 Biosystems Reports Second Quarter 2017 Financial Results; Provides Company Update (finance.yahoo.com)
- T2 Biosystems reports 2Q loss (finance.yahoo.com)
- T2 Biosystems to Present at the 37th Annual Canaccord Genuity Growth Conference (finance.yahoo.com)
T2 Biosystems (NASDAQ:TTOO) traded down 4.52% during midday trading on Tuesday, hitting $2.96. The stock had a trading volume of 91,337 shares. The firm’s market capitalization is $90.56 million. T2 Biosystems has a 1-year low of $2.50 and a 1-year high of $8.04. The firm has a 50-day moving average price of $3.04 and a 200-day moving average price of $4.43.
T2 Biosystems (NASDAQ:TTOO) last posted its earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.49) by $0.01. The business had revenue of $0.96 million for the quarter, compared to analyst estimates of $0.79 million. T2 Biosystems had a negative return on equity of 148.38% and a negative net margin of 1,473.71%. On average, equities research analysts anticipate that T2 Biosystems will post ($1.92) earnings per share for the current year.
Several brokerages have commented on TTOO. Zacks Investment Research upgraded T2 Biosystems from a “sell” rating to a “hold” rating in a report on Saturday, May 6th. Cantor Fitzgerald lowered their price target on T2 Biosystems from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Wednesday, May 3rd. Finally, BTIG Research upgraded T2 Biosystems from a “sell” rating to a “neutral” rating and set a $4.00 price target on the stock in a report on Monday, May 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $6.75.
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In other T2 Biosystems news, Director David B. Elsbree bought 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were acquired at an average cost of $3.50 per share, with a total value of $35,000.00. Following the acquisition, the director now owns 50,000 shares of the company’s stock, valued at $175,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased a total of 20,000 shares of company stock worth $70,330 over the last three months. 38.70% of the stock is owned by insiders.
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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