T2 Biosystems (NASDAQ:TTOO) Rating Lowered to Neutral at HC Wainwright

HC Wainwright downgraded shares of T2 Biosystems (NASDAQ:TTOO) from a buy rating to a neutral rating in a research report sent to investors on Wednesday, BenzingaRatingsTable reports.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of T2 Biosystems from a hold rating to a buy rating and set a $1.75 target price for the company in a research note on Saturday, July 27th. ValuEngine downgraded shares of T2 Biosystems from a hold rating to a sell rating in a research report on Wednesday, May 1st. Alliance Global Partners started coverage on shares of T2 Biosystems in a research report on Thursday, May 16th. They set a buy rating and a $5.00 price objective for the company. Cantor Fitzgerald downgraded shares of T2 Biosystems from an overweight rating to a neutral rating in a research report on Wednesday. Finally, Janney Montgomery Scott downgraded shares of T2 Biosystems from a buy rating to a neutral rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. T2 Biosystems presently has a consensus rating of Hold and an average target price of $6.19.

NASDAQ:TTOO traded up $0.03 during mid-day trading on Wednesday, hitting $0.61. The stock had a trading volume of 1,571,040 shares, compared to its average volume of 1,072,688. T2 Biosystems has a twelve month low of $0.52 and a twelve month high of $7.70. The stock has a 50 day simple moving average of $1.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.76 and a current ratio of 0.81.

T2 Biosystems (NASDAQ:TTOO) last issued its earnings results on Tuesday, July 30th. The medical equipment provider reported ($0.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.32) by ($0.03). T2 Biosystems had a negative net margin of 722.70% and a negative return on equity of 506.84%. The firm had revenue of $1.80 million during the quarter, compared to analyst estimates of $1.95 million. During the same quarter last year, the business posted ($0.32) earnings per share. The company’s revenue for the quarter was down 53.8% on a year-over-year basis. As a group, equities analysts forecast that T2 Biosystems will post -1.21 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Cable Hill Partners LLC lifted its position in T2 Biosystems by 100.0% during the first quarter. Cable Hill Partners LLC now owns 10,000 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 5,000 shares during the last quarter. Wiley BROS. Aintree Capital LLC acquired a new stake in T2 Biosystems during the first quarter worth approximately $26,000. Lau Associates LLC acquired a new stake in T2 Biosystems during the first quarter worth approximately $33,000. Jane Street Group LLC acquired a new stake in T2 Biosystems during the fourth quarter worth approximately $67,000. Finally, Focused Wealth Management Inc lifted its position in T2 Biosystems by 48.7% during the first quarter. Focused Wealth Management Inc now owns 30,550 shares of the medical equipment provider’s stock worth $80,000 after acquiring an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 46.19% of the company’s stock.

About T2 Biosystems

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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Analyst Recommendations for T2 Biosystems (NASDAQ:TTOO)

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