T2 Biosystems’ (TTOO) Buy Rating Reiterated at Canaccord Genuity
T2 Biosystems (NASDAQ:TTOO)‘s stock had its “buy” rating reaffirmed by analysts at Canaccord Genuity in a research report issued to clients and investors on Wednesday, The Fly reports. They currently have a $3.50 target price on the medical equipment provider’s stock, up from their prior target price of $2.50. Canaccord Genuity’s price objective would indicate a potential upside of 34.10% from the stock’s previous close.
TTOO has been the subject of a number of other research reports. Alliance Global Partners cut T2 Biosystems from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $5.00 to $0.40 in a report on Thursday, August 1st. Cantor Fitzgerald lowered T2 Biosystems from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 31st. Janney Montgomery Scott restated a “neutral” rating and issued a $2.00 price target on shares of T2 Biosystems in a report on Wednesday. Zacks Investment Research lowered shares of T2 Biosystems from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, ValuEngine raised shares of T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $4.66.
TTOO traded up $1.18 during trading on Wednesday, hitting $2.61. The company’s stock had a trading volume of 9,386,953 shares, compared to its average volume of 992,038. T2 Biosystems has a twelve month low of $0.52 and a twelve month high of $7.70. The stock has a market cap of $65.47 million, a PE ratio of -2.07 and a beta of 1.15. The firm’s 50 day moving average price is $1.12 and its 200-day moving average price is $2.10. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.58 and a quick ratio of 0.52.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC bought a new position in T2 Biosystems during the second quarter worth $316,000. Paloma Partners Management Co acquired a new stake in shares of T2 Biosystems during the second quarter worth $235,000. Vanguard Group Inc. lifted its position in shares of T2 Biosystems by 20.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,390,197 shares of the medical equipment provider’s stock worth $2,336,000 after buying an additional 234,369 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of T2 Biosystems in the 2nd quarter valued at about $27,000. Finally, A.R.T. Advisors LLC bought a new position in T2 Biosystems in the second quarter worth about $58,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.
T2 Biosystems Company Profile
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.
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.