T2 Biosystems (NASDAQ:TTOO) Shares Gap Down to $2.52

Shares of T2 Biosystems, Inc. (NASDAQ:TTOO) gapped down prior to trading on Tuesday . The stock had previously closed at $2.52, but opened at $2.13. T2 Biosystems shares last traded at $2.25, with a volume of 9,598 shares trading hands.

TTOO has been the topic of a number of research reports. Jonestrading reissued a “buy” rating and issued a $3.50 price objective on shares of T2 Biosystems in a report on Wednesday, January 27th. Alliance Global Partners downgraded T2 Biosystems from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $2.60 to $2.40 in a research note on Wednesday, January 27th. Canaccord Genuity restated a “buy” rating and issued a $3.50 target price on shares of T2 Biosystems in a research note on Tuesday, January 26th. Finally, SVB Leerink lowered their target price on T2 Biosystems from $4.00 to $3.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 27th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. T2 Biosystems currently has an average rating of “Buy” and an average target price of $2.57.

The company has a quick ratio of 4.63, a current ratio of 4.97 and a debt-to-equity ratio of 2.54. The business has a 50-day simple moving average of $2.31 and a 200-day simple moving average of $1.55. The company has a market cap of $338.82 million, a PE ratio of -3.01 and a beta of 0.72.

Several hedge funds have recently made changes to their positions in the company. Creative Planning increased its stake in shares of T2 Biosystems by 40.4% during the fourth quarter. Creative Planning now owns 19,934 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 5,734 shares in the last quarter. Levin Capital Strategies L.P. boosted its holdings in T2 Biosystems by 11.3% in the 3rd quarter. Levin Capital Strategies L.P. now owns 98,451 shares of the medical equipment provider’s stock worth $134,000 after buying an additional 10,000 shares during the last quarter. Founders Capital Management purchased a new stake in T2 Biosystems during the 4th quarter worth approximately $32,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in T2 Biosystems during the 4th quarter worth approximately $32,000. Finally, Northern Trust Corp increased its stake in T2 Biosystems by 11.6% during the 4th quarter. Northern Trust Corp now owns 270,535 shares of the medical equipment provider’s stock worth $335,000 after buying an additional 28,182 shares in the last quarter. 12.30% of the stock is owned by institutional investors and hedge funds.

T2 Biosystems Company Profile (NASDAQ:TTOO)

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 technology that 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.

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