Zacks Investment Research upgraded shares of T2 Biosystems (NASDAQ:TTOO) from a sell rating to a hold rating in a research report released on Wednesday morning.

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 equities research analysts also recently commented on the stock. HC Wainwright reissued a buy rating and issued a $11.00 price objective (down from $14.00) on shares of T2 Biosystems in a research report on Friday, March 8th. Cantor Fitzgerald set a $11.00 price objective on shares of T2 Biosystems and gave the company a buy rating in a research report on Tuesday, March 5th. Canaccord Genuity reissued a buy rating and issued a $10.00 price objective on shares of T2 Biosystems in a research report on Tuesday, March 5th. ValuEngine downgraded shares of T2 Biosystems from a buy rating to a hold rating in a research report on Wednesday, January 2nd. Finally, Goldman Sachs Group set a $5.00 price objective on shares of T2 Biosystems and gave the company a hold rating in a research report on Friday, November 30th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. T2 Biosystems has a consensus rating of Hold and a consensus price target of $8.55.

Shares of NASDAQ:TTOO opened at $2.68 on Wednesday. T2 Biosystems has a 52 week low of $2.47 and a 52 week high of $9.98. The company has a current ratio of 7.16, a quick ratio of 6.81 and a debt-to-equity ratio of 1.66. The company has a market capitalization of $118.03 million, a price-to-earnings ratio of -2.13 and a beta of 1.87.

T2 Biosystems (NASDAQ:TTOO) last announced its quarterly earnings data on Thursday, March 7th. The medical equipment provider reported ($0.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.31) by ($0.04). T2 Biosystems had a negative net margin of 487.17% and a negative return on equity of 336.09%. The firm had revenue of $1.79 million during the quarter, compared to analysts’ expectations of $2.52 million. On average, research analysts forecast that T2 Biosystems will post -1.03 earnings per share for the current year.

In related news, CEO John Mcdonough sold 14,338 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $3.43, for a total value of $49,179.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 34,587 shares of company stock worth $117,854 over the last ninety days. Insiders own 31.50% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Creative Planning grew its position in shares of T2 Biosystems by 28.0% in the 4th quarter. Creative Planning now owns 19,200 shares of the medical equipment provider’s stock valued at $58,000 after buying an additional 4,200 shares during the last quarter. Keybank National Association OH grew its position in shares of T2 Biosystems by 28.6% in the 3rd quarter. Keybank National Association OH now owns 45,000 shares of the medical equipment provider’s stock valued at $335,000 after buying an additional 10,000 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in shares of T2 Biosystems in the 4th quarter valued at $37,000. Bell & Brown Wealth Advisors LLC purchased a new position in shares of T2 Biosystems in the 4th quarter valued at $38,000. Finally, Two Sigma Investments LP grew its position in shares of T2 Biosystems by 34.8% in the 4th quarter. Two Sigma Investments LP now owns 52,082 shares of the medical equipment provider’s stock valued at $157,000 after buying an additional 13,435 shares during the last quarter. 50.00% of the stock is currently 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. 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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