Zacks Investment Research upgraded shares of T2 Biosystems, Inc. (NASDAQ:TTOO) from a sell rating to a hold rating in a research note released on Thursday 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. “

Separately, ValuEngine upgraded T2 Biosystems from a strong sell rating to a sell rating in a research report on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $6.83.

Shares of T2 Biosystems (NASDAQ TTOO) traded down 2.83% during midday trading on Thursday, reaching $4.47. 303,881 shares of the company’s stock traded hands. The stock’s market cap is $137.52 million. The stock has a 50 day moving average of $4.53 and a 200-day moving average of $3.98. T2 Biosystems has a 52-week low of $2.50 and a 52-week high of $7.26.

T2 Biosystems (NASDAQ:TTOO) last posted its quarterly earnings data on Thursday, August 3rd. The medical equipment provider reported ($0.50) earnings per share for the quarter, missing the consensus estimate of ($0.49) by ($0.01). The firm had revenue of $0.96 million for the quarter, compared to the consensus estimate of $0.79 million. T2 Biosystems had a negative return on equity of 178.83% and a negative net margin of 1,473.71%. On average, equities research analysts expect that T2 Biosystems will post ($1.94) EPS for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of the stock. Susquehanna International Group LLP increased its position in shares of T2 Biosystems by 931.3% in the second quarter. Susquehanna International Group LLP now owns 85,620 shares of the medical equipment provider’s stock worth $275,000 after purchasing an additional 95,920 shares during the period. Lagoda Investment Management L.P. increased its position in shares of T2 Biosystems by 15.4% in the second quarter. Lagoda Investment Management L.P. now owns 1,975,921 shares of the medical equipment provider’s stock worth $6,343,000 after purchasing an additional 264,337 shares during the period. Goldman Sachs Group Inc. increased its position in shares of T2 Biosystems by 0.4% in the second quarter. Goldman Sachs Group Inc. now owns 4,270,632 shares of the medical equipment provider’s stock worth $13,709,000 after purchasing an additional 18,000 shares during the period. Senvest Management LLC increased its position in shares of T2 Biosystems by 15.2% in the second quarter. Senvest Management LLC now owns 2,837,946 shares of the medical equipment provider’s stock worth $9,110,000 after purchasing an additional 373,876 shares during the period. Finally, LMR Partners LLP bought a new position in shares of T2 Biosystems in the second quarter worth $180,000. Institutional investors own 53.02% of the company’s stock.

T2 Biosystems Company Profile

T2 Biosystems, Inc is an in vitro diagnostics company engaged in developing a technology platform offering an alternative to diagnostic methodologies. The Company’s T2 Magnetic Resonance platform (T2MR) enables detection of pathogens, biomarkers and other abnormalities in a range of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as one colony forming unit per milliliter (CFU/mL).

Analyst Recommendations for T2 Biosystems (NASDAQ:TTOO)

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