T2 Biosystems (NASDAQ:TTOO) Stock Rating Lowered by Zacks Investment Research

T2 Biosystems (NASDAQ:TTOO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, Zacks.com reports.

According to Zacks, “T2 Biosystems, Inc. is an in vitro diagnostics company. It has developed a technology platform that is designed to offer a rapid, sensitive and simple alternative to existing diagnostic methodologies. The Company uses its T2 Magnetic Resonance platform, or T2MR, that enables rapid detection of pathogens, biomarkers and other abnormalities in a variety of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets. It operates primarily in the United States. T2 Biosystems, Inc. is headquartered in Lexington, Massachusetts. “

A number of other brokerages have also weighed in on TTOO. Janney Montgomery Scott raised T2 Biosystems from a “neutral” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Thursday, September 12th. ValuEngine raised T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Svb Leerink boosted their target price on T2 Biosystems from $3.00 to $5.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Alliance Global Partners lowered T2 Biosystems from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $5.00 to $0.40 in a research report on Thursday, August 1st. Finally, Leerink Swann set a $5.00 target price on T2 Biosystems and gave the stock a “buy” rating in a research report on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. T2 Biosystems presently has an average rating of “Hold” and a consensus target price of $5.18.

Shares of NASDAQ:TTOO opened at $2.56 on Thursday. T2 Biosystems has a fifty-two week low of $0.52 and a fifty-two week high of $6.09. The business has a 50-day simple moving average of $2.10 and a two-hundred day simple moving average of $2.00. The firm has a market cap of $114.01 million, a price-to-earnings ratio of -2.03 and a beta of 1.21.

T2 Biosystems (NASDAQ:TTOO) last issued its earnings results on Tuesday, July 30th. The medical equipment provider reported ($0.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($0.03). T2 Biosystems had a negative return on equity of 1,263.94% and a negative net margin of 722.70%. The business had revenue of $1.80 million during the quarter, compared to analysts’ expectations of $1.95 million. During the same period last year, the firm posted ($0.32) EPS. T2 Biosystems’s quarterly revenue was down 53.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that T2 Biosystems will post -1.22 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TTOO. Wiley BROS. Aintree Capital LLC increased its position in shares of T2 Biosystems by 150.0% during the 2nd quarter. Wiley BROS. Aintree Capital LLC now owns 25,000 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 15,000 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of T2 Biosystems by 7,546.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 732,400 shares of the medical equipment provider’s stock valued at $1,150,000 after purchasing an additional 722,822 shares during the last quarter. Ardsley Advisory Partners LP increased its position in shares of T2 Biosystems by 6.1% during the 2nd quarter. Ardsley Advisory Partners LP now owns 875,000 shares of the medical equipment provider’s stock valued at $1,470,000 after purchasing an additional 50,000 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of T2 Biosystems by 1,217.6% during 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 purchasing an additional 20,699 shares during the last quarter. Finally, A.R.T. Advisors LLC purchased a new stake in shares of T2 Biosystems during the 2nd quarter valued at about $58,000. 38.28% 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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