T2 Biosystems Inc (NASDAQ:TTOO) was up 5.8% during mid-day trading on Monday . The stock traded as high as $1.49 and last traded at $1.47, approximately 663,956 shares changed hands during mid-day trading. A decline of 35% from the average daily volume of 1,022,473 shares. The stock had previously closed at $1.39.

A number of equities analysts recently issued reports on TTOO shares. Canaccord Genuity restated a “buy” rating and issued a $3.50 target price (up previously from $2.50) on shares of T2 Biosystems in a research note on Wednesday. Cantor Fitzgerald downgraded T2 Biosystems from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 31st. Alliance Global Partners lowered T2 Biosystems from a “buy” rating to a “neutral” rating and cut their price objective for the company from $5.00 to $0.40 in a report on Thursday, August 1st. ValuEngine upgraded T2 Biosystems from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research downgraded T2 Biosystems from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. T2 Biosystems presently has a consensus rating of “Hold” and an average target price of $4.66.

The firm has a market capitalization of $65.47 million, a PE ratio of -2.07 and a beta of 1.15. The firm’s fifty day moving average price is $1.14 and its 200 day moving average price is $2.10. The company has a current ratio of 0.58, a quick ratio of 0.52 and a debt-to-equity ratio of 0.04.

T2 Biosystems (NASDAQ:TTOO) last issued its earnings results on Tuesday, July 30th. The medical equipment provider reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.03). The business had revenue of $1.80 million for the quarter, compared to analysts’ expectations of $1.95 million. T2 Biosystems had a negative return on equity of 1,263.94% and a negative net margin of 722.70%. The company’s revenue for the quarter was down 53.8% on a year-over-year basis. During the same period last year, the business earned ($0.32) EPS. On average, analysts predict that T2 Biosystems Inc will post -1.2 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Cable Hill Partners LLC grew its position in T2 Biosystems by 100.0% during the 1st quarter. Cable Hill Partners LLC now owns 10,000 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 5,000 shares during the period. Private Advisor Group LLC acquired a new position in shares of T2 Biosystems in the 2nd quarter valued at about $27,000. Tower Research Capital LLC TRC lifted its holdings in shares of T2 Biosystems by 1,217.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 22,399 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 20,699 shares during the period. Wiley BROS. Aintree Capital LLC boosted its stake in shares of T2 Biosystems by 150.0% in the second quarter. Wiley BROS. Aintree Capital LLC now owns 25,000 shares of the medical equipment provider’s stock worth $42,000 after buying an additional 15,000 shares during the last quarter. Finally, Focused Wealth Management Inc boosted its stake in shares of T2 Biosystems by 48.7% in the first quarter. Focused Wealth Management Inc now owns 30,550 shares of the medical equipment provider’s stock worth $80,000 after buying an additional 10,000 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

T2 Biosystems Company Profile (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.

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