T2 Biosystems (NASDAQ:TTOO) Shares Cross Below 200-Day Moving Average – What’s Next?

Posted by Bonnie Powley on Oct 24th, 2024

T2 Biosystems, Inc. (NASDAQ:TTOO – Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.75 and traded as low as $1.38. T2 Biosystems shares last traded at $1.44, with a volume of 4,034,508 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. StockNews.com raised T2 Biosystems to a “sell” rating in a research note on Tuesday, July 30th. Canaccord Genuity Group increased their target price on shares of T2 Biosystems from $3.00 to $5.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th.

Check Out Our Latest Stock Analysis on T2 Biosystems

T2 Biosystems Stock Performance

The business’s 50 day moving average is $2.39 and its two-hundred day moving average is $3.75.

T2 Biosystems (NASDAQ:TTOO – Get Free Report) last posted its quarterly earnings data on Monday, July 29th. The medical equipment provider reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.97) by $0.31. The business had revenue of $1.95 million during the quarter.

Hedge Funds Weigh In On T2 Biosystems

A hedge fund recently bought a new stake in T2 Biosystems stock. Armistice Capital LLC acquired a new stake in T2 Biosystems, Inc. (NASDAQ:TTOO – Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,658,000 shares of the medical equipment provider’s stock, valued at approximately $8,854,000. Armistice Capital LLC owned approximately 9.49% of T2 Biosystems as of its most recent SEC filing. Institutional investors own 23.18% of the company’s stock.

T2 Biosystems Company Profile

(Get Free Report)

T2 Biosystems, Inc, an in vitro diagnostics company, develops and sells diagnostic products and product candidates in the United States and internationally. Its technology enables detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, cerebral spinal fluid, and urine.