StockNews.com Initiates Coverage on T2 Biosystems (NASDAQ:TTOO)

StockNews.com assumed coverage on shares of T2 Biosystems (NASDAQ:TTOO) in a report released on Monday morning. The firm issued a sell rating on the medical equipment provider’s stock.

Separately, Canaccord Genuity Group increased their price objective on shares of T2 Biosystems from $3.00 to $5.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th.

T2 Biosystems Stock Up 2.7 %

NASDAQ TTOO opened at $0.50 on Monday. T2 Biosystems has a 1-year low of $0.42 and a 1-year high of $8.38. The company has a 50 day moving average of $1.21 and a 200-day moving average of $3.33.

Institutional Trading of T2 Biosystems

A hedge fund recently raised its stake in T2 Biosystems stock. Virtu Financial LLC grew its stake in T2 Biosystems, Inc. (NASDAQ:TTOO) by 29.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,096 shares of the medical equipment provider’s stock after buying an additional 3,018 shares during the quarter. Virtu Financial LLC owned 0.24% of T2 Biosystems worth $39,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 23.18% of the company’s stock.

About T2 Biosystems

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.