T2 Biosystems (NASDAQ:TTOO) Sees Strong Trading Volume

T2 Biosystems Inc (NASDAQ:TTOO) shares saw strong trading volume on Monday . 2,211,463 shares were traded during mid-day trading, an increase of 189% from the previous session’s volume of 765,887 shares.The stock last traded at $1.55 and had previously closed at $1.50.

Several equities analysts recently issued reports on the company. ValuEngine lowered Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. HC Wainwright set a $10.00 price objective on T2 Biosystems and gave the company a “buy” rating in a research report on Friday, June 7th. Cantor Fitzgerald set a $10.00 price objective on T2 Biosystems and gave the company a “buy” rating in a research report on Friday, May 24th. Zacks Investment Research upgraded SCHNEIDER ELEC /ADR from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Friday, July 5th. Finally, Alliance Global Partners assumed coverage on T2 Biosystems in a research report on Thursday, May 16th. They issued a “buy” rating and a $5.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $7.63.

The company has a market capitalization of $75.82 million, a P/E ratio of -1.36 and a beta of 1.66. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.81. The company’s fifty day moving average is $1.72.

T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings data on Thursday, May 2nd. The medical equipment provider reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The company had revenue of $1.80 million during the quarter, compared to analyst estimates of $1.38 million. T2 Biosystems had a negative net margin of 535.26% and a negative return on equity of 325.79%. The company’s quarterly revenue was down 21.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.36) EPS. As a group, equities analysts expect that T2 Biosystems Inc will post -1.18 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of T2 Biosystems by 6.3% in the 4th quarter. BlackRock Inc. now owns 2,056,222 shares of the medical equipment provider’s stock valued at $6,188,000 after buying an additional 121,836 shares during the last quarter. Geode Capital Management LLC raised its stake in T2 Biosystems by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 375,582 shares of the medical equipment provider’s stock valued at $1,130,000 after acquiring an additional 13,552 shares during the period. Bell Rock Capital LLC raised its stake in T2 Biosystems by 5.7% in the 1st quarter. Bell Rock Capital LLC now owns 340,375 shares of the medical equipment provider’s stock valued at $897,000 after acquiring an additional 18,240 shares during the period. Deutsche Bank AG raised its stake in T2 Biosystems by 101.1% in the 4th quarter. Deutsche Bank AG now owns 157,785 shares of the medical equipment provider’s stock valued at $474,000 after acquiring an additional 79,311 shares during the period. Finally, Gagnon Securities LLC raised its stake in T2 Biosystems by 124.3% in the 1st quarter. Gagnon Securities LLC now owns 149,065 shares of the medical equipment provider’s stock valued at $392,000 after acquiring an additional 82,605 shares during the period. 46.16% of the stock is 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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