Cantor Fitzgerald set a $11.00 price objective on T2 Biosystems (NASDAQ:TTOO) in a report published on Friday, November 2nd. The brokerage currently has a buy rating on the medical equipment provider’s stock.
A number of other analysts have also commented on the stock. BidaskClub lowered shares of T2 Biosystems from a sell rating to a strong sell rating in a report on Friday, October 12th. HC Wainwright reaffirmed a buy rating and set a $14.00 target price on shares of T2 Biosystems in a report on Monday, October 8th. ValuEngine lowered shares of T2 Biosystems from a buy rating to a hold rating in a report on Thursday, September 13th. Finally, Zacks Investment Research raised shares of T2 Biosystems from a sell rating to a hold rating in a report on Thursday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of Buy and an average target price of $8.99.
TTOO traded up $0.03 during trading on Friday, reaching $5.08. 638,181 shares of the company’s stock were exchanged, compared to its average volume of 650,865. The company has a quick ratio of 6.81, a current ratio of 7.16 and a debt-to-equity ratio of 1.66. T2 Biosystems has a fifty-two week low of $3.75 and a fifty-two week high of $9.98.
In other news, insider Thomas J. Lowery sold 138,144 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $6.18, for a total value of $853,729.92. Following the completion of the transaction, the insider now owns 57,873 shares of the company’s stock, valued at approximately $357,655.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stanley Lapidus sold 6,048 shares of the business’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $5.29, for a total transaction of $31,993.92. Following the completion of the transaction, the director now directly owns 59,058 shares of the company’s stock, valued at approximately $312,416.82. The disclosure for this sale can be found here. 31.50% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. ClariVest Asset Management LLC acquired a new position in shares of T2 Biosystems in the 2nd quarter valued at $1,010,000. Levin Capital Strategies L.P. bought a new stake in T2 Biosystems in the 2nd quarter valued at $698,000. Ardsley Advisory Partners bought a new stake in T2 Biosystems in the 2nd quarter valued at $5,844,000. Zacks Investment Management bought a new stake in T2 Biosystems in the 2nd quarter valued at $124,000. Finally, MYDA Advisors LLC bought a new stake in T2 Biosystems in the 2nd quarter valued at $157,000. 59.01% of the stock is owned by 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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