Several other equities analysts have also commented on the company. Zacks Investment Research lowered T2 Biosystems from a hold rating to a sell rating in a research report on Tuesday, March 5th. Canaccord Genuity reissued a buy rating and set a $10.00 price objective on shares of T2 Biosystems in a research report on Tuesday, March 5th. Cantor Fitzgerald set a $11.00 price objective on T2 Biosystems and gave the company a buy rating in a research report on Tuesday, March 5th. Finally, HC Wainwright reissued a buy rating and set a $11.00 price objective (down previously from $14.00) on shares of T2 Biosystems in a research report on Friday, March 8th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. T2 Biosystems currently has an average rating of Hold and a consensus target price of $8.55.
NASDAQ:TTOO traded up $0.03 during trading hours on Wednesday, hitting $2.53. The company had a trading volume of 24,007 shares, compared to its average volume of 530,214. The stock has a market cap of $113.95 million, a P/E ratio of -2.01 and a beta of 1.77. T2 Biosystems has a 52 week low of $2.42 and a 52 week high of $9.98. The company has a quick ratio of 1.03, a current ratio of 1.08 and a debt-to-equity ratio of 0.04.
T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings results on Thursday, March 7th. The medical equipment provider reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The company had revenue of $1.79 million during the quarter, compared to the consensus estimate of $2.52 million. T2 Biosystems had a negative net margin of 487.17% and a negative return on equity of 358.67%. On average, analysts expect that T2 Biosystems will post -1.08 EPS for the current fiscal year.
In other T2 Biosystems news, CEO John Mcdonough sold 8,134 shares of the firm’s stock in a transaction on Monday, February 11th. The stock was sold at an average price of $3.36, for a total transaction of $27,330.24. Following the completion of the transaction, the chief executive officer now owns 456,354 shares of the company’s stock, valued at $1,533,349.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 34,587 shares of company stock valued at $117,854 in the last three months. Insiders own 31.50% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of T2 Biosystems by 5.9% during the 3rd quarter. BlackRock Inc. now owns 1,934,386 shares of the medical equipment provider’s stock worth $14,411,000 after buying an additional 108,575 shares during the last quarter. Teachers Advisors LLC raised its stake in T2 Biosystems by 107.8% in the 3rd quarter. Teachers Advisors LLC now owns 67,610 shares of the medical equipment provider’s stock worth $504,000 after purchasing an additional 35,080 shares in the last quarter. Vanguard Group Inc. raised its stake in T2 Biosystems by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,621,740 shares of the medical equipment provider’s stock worth $12,082,000 after purchasing an additional 128,724 shares in the last quarter. Vanguard Group Inc raised its stake in T2 Biosystems by 8.6% in the 3rd quarter. Vanguard Group Inc now owns 1,621,740 shares of the medical equipment provider’s stock worth $12,082,000 after purchasing an additional 128,724 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in T2 Biosystems in the 4th quarter worth about $107,000. 49.58% of the stock is owned by hedge funds and other institutional investors.
T2 Biosystems Company Profile
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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