T2 Biosystems (TTOO) Rating Lowered to Hold at Zacks Investment Research

T2 Biosystems (NASDAQ:TTOO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

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. “

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TTOO has been the topic of several other reports. Goldman Sachs started coverage on T2 Biosystems in a research report on Monday, January 29th. They issued a “neutral” rating and a $5.20 price objective on the stock. HC Wainwright set a $8.00 price objective on T2 Biosystems and gave the company a “buy” rating in a research report on Wednesday, March 7th. Finally, ValuEngine raised T2 Biosystems from a “strong sell” rating to a “sell” rating in a research report on Monday, March 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $6.08.

T2 Biosystems (NASDAQ:TTOO) opened at $6.31 on Friday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.86 and a quick ratio of 5.28. T2 Biosystems has a 52-week low of $2.50 and a 52-week high of $7.26. The company has a market capitalization of $242.05, a PE ratio of -3.32 and a beta of 1.49.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in shares of T2 Biosystems by 72.2% during the fourth quarter. Renaissance Technologies LLC now owns 83,500 shares of the medical equipment provider’s stock worth $344,000 after acquiring an additional 35,000 shares during the last quarter. Gagnon Securities LLC purchased a new stake in shares of T2 Biosystems during the third quarter worth about $396,000. Geode Capital Management LLC increased its position in shares of T2 Biosystems by 41.9% during the fourth quarter. Geode Capital Management LLC now owns 134,470 shares of the medical equipment provider’s stock worth $554,000 after acquiring an additional 39,722 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of T2 Biosystems during the third quarter worth about $630,000. Finally, Lagoda Investment Management L.P. increased its position in shares of T2 Biosystems by 61.4% during the third quarter. Lagoda Investment Management L.P. now owns 3,188,539 shares of the medical equipment provider’s stock worth $13,392,000 after acquiring an additional 1,212,618 shares during the last quarter. 52.61% of the stock is currently owned by institutional investors and hedge funds.

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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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