T2 Biosystems (TTOO) Stock Price Up 6.6%
T2 Biosystems Inc (NASDAQ:TTOO) rose 6.6% during trading on Thursday . The stock traded as high as $3.01 and last traded at $2.91. Approximately 747,023 shares changed hands during mid-day trading, an increase of 6% from the average daily volume of 706,982 shares. The stock had previously closed at $2.73.
TTOO has been the subject of several recent research reports. HC Wainwright restated a “buy” rating and issued a $11.00 price target (down previously from $14.00) on shares of T2 Biosystems in a report on Friday, March 8th. Canaccord Genuity restated a “buy” rating and issued a $10.00 price target on shares of T2 Biosystems in a report on Tuesday, March 5th. Cantor Fitzgerald set a $11.00 price target on shares of T2 Biosystems and gave the company a “buy” rating in a report on Tuesday, March 5th. Alliance Global Partners initiated coverage on shares of T2 Biosystems in a report on Thursday. They issued a “buy” rating and a $5.00 price target for the company. Finally, Zacks Investment Research upgraded shares of T2 Biosystems from a “sell” rating to a “hold” rating in a report on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $7.79.
The company has a current ratio of 0.81, a quick ratio of 1.03 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $129.03 million, a P/E ratio of -2.08 and a beta of 1.77.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in shares of T2 Biosystems during the 4th quarter worth approximately $107,000. Bell Rock Capital LLC raised its stake in shares of T2 Biosystems by 10.4% during the 4th quarter. Bell Rock Capital LLC now owns 322,135 shares of the medical equipment provider’s stock worth $971,000 after acquiring an additional 30,300 shares in the last quarter. Gagnon Securities LLC raised its stake in shares of T2 Biosystems by 156.2% during the 4th quarter. Gagnon Securities LLC now owns 66,460 shares of the medical equipment provider’s stock worth $200,000 after acquiring an additional 40,521 shares in the last quarter. Vanguard Group Inc raised its stake in shares of T2 Biosystems by 8.6% during the 3rd quarter. Vanguard Group Inc now owns 1,621,740 shares of the medical equipment provider’s stock worth $12,082,000 after acquiring an additional 128,724 shares in the last quarter. Finally, Pathlight Investors LLC bought a new position in shares of T2 Biosystems during the 4th quarter worth approximately $117,000. Hedge funds and other institutional investors own 48.75% of the company’s stock.
TRADEMARK VIOLATION WARNING: “T2 Biosystems (TTOO) Stock Price Up 6.6%” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this article on another website, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this article can be accessed at https://www.thecerbatgem.com/2019/05/18/t2-biosystems-ttoo-stock-price-up-6-6.html.
About T2 Biosystems (NASDAQ:TTOO)
T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States and internationally. It provides T2 Magnetic Resonance platform that enables detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, and urine.
Featured Article: What is the Coverage Ratio?
Receive News & Ratings for T2 Biosystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T2 Biosystems and related companies with MarketBeat.com's FREE daily email newsletter.