T2 Biosystems (TTOO) Shares Down 19.1%

Shares of T2 Biosystems Inc (NASDAQ:TTOO) were down 19.1% during mid-day trading on Thursday . The stock traded as low as $1.75 and last traded at $2.08. Approximately 5,021,415 shares traded hands during mid-day trading, an increase of 578% from the average daily volume of 740,769 shares. The stock had previously closed at $2.57.

Several research analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $11.00 target price (down from $14.00) on shares of T2 Biosystems in a report on Friday, March 8th. Zacks Investment Research cut shares of T2 Biosystems from a “hold” rating to a “sell” rating in a report on Tuesday, March 5th. ValuEngine cut shares of T2 Biosystems from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $10.00 target price on shares of T2 Biosystems in a report on Friday, May 3rd. Finally, Alliance Global Partners assumed coverage on shares of T2 Biosystems in a report on Thursday, May 16th. They issued a “buy” rating and a $5.00 target price for the company. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. T2 Biosystems has an average rating of “Hold” and a consensus price target of $7.79.

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 stock has a market cap of $112.18 million, a PE ratio of -1.65 and a beta of 1.77.

T2 Biosystems (NASDAQ:TTOO) last announced its earnings results on Thursday, May 2nd. The medical equipment provider reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.04). The business had revenue of $1.80 million for the quarter, compared to the consensus estimate of $1.38 million. T2 Biosystems had a negative net margin of 535.26% and a negative return on equity of 325.79%. The business’s quarterly revenue was down 21.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.36) earnings per share. On average, equities analysts forecast that T2 Biosystems Inc will post -1.15 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in TTOO. BlackRock Inc. grew its holdings in T2 Biosystems by 20.5% during the 1st quarter. BlackRock Inc. now owns 2,478,663 shares of the medical equipment provider’s stock worth $6,519,000 after acquiring an additional 422,441 shares in the last quarter. Vanguard Group Inc grew its stake in shares of 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 valued at $12,082,000 after purchasing an additional 128,724 shares during the period. Vanguard Group Inc. grew its stake in shares of 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 valued at $12,082,000 after purchasing an additional 128,724 shares during the period. Assenagon Asset Management S.A. bought a new stake in shares of T2 Biosystems in the 4th quarter valued at approximately $381,000. Finally, Gagnon Securities LLC grew its stake in shares of 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 purchasing an additional 82,605 shares during the period. Institutional investors own 48.49% of the company’s stock.

TRADEMARK VIOLATION WARNING: This article was originally published by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this article on another website, it was stolen and republished in violation of United States & international copyright law. The legal version of this article can be read at https://www.baseballdailydigest.com/news/2019/05/23/t2-biosystems-ttoo-shares-down-19-1.html.

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.

Featured Story: What is the Moving Average Convergence Divergence (MACD) oscillator?

Receive News & Ratings for T2 Biosystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T2 Biosystems and related companies with MarketBeat.com's FREE daily email newsletter.