T2 Biosystems (NASDAQ:TTOO) PT Lowered to $3.00 at Canaccord Genuity Group

T2 Biosystems (NASDAQ:TTOO) had its price target decreased by investment analysts at Canaccord Genuity Group from $12.00 to $3.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the medical equipment provider’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 2.74% from the stock’s current price.

T2 Biosystems Stock Up 2.8 %

Shares of NASDAQ TTOO traded up $0.08 on Monday, hitting $2.92. The company’s stock had a trading volume of 44,604 shares, compared to its average volume of 269,233. T2 Biosystems has a 12-month low of $2.60 and a 12-month high of $70.00. The stock has a 50 day moving average of $3.81 and a 200-day moving average of $10.32.

Hedge Funds Weigh In On T2 Biosystems

A hedge fund recently bought a new stake in T2 Biosystems stock. Banco Santander S.A. bought a new stake in T2 Biosystems, Inc. (NASDAQ:TTOO) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 189,134 shares of the medical equipment provider’s stock, valued at approximately $42,000. Banco Santander S.A. owned about 5.66% of T2 Biosystems at the end of the most recent quarter. 23.18% 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 and internationally. Its technology enables detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, cerebral spinal fluid, and urine.