T2 Biosystems Inc (NASDAQ:TTOO) has earned an average rating of “Hold” from the nine research firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $9.25.
TTOO has been the topic of several recent research reports. Zacks Investment Research upgraded T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Wednesday. Canaccord Genuity reiterated a “buy” rating and set a $10.00 price objective on shares of T2 Biosystems in a research report on Tuesday, March 5th. Goldman Sachs Group set a $5.00 price objective on T2 Biosystems and gave the company a “hold” rating in a research report on Friday, November 30th. HC Wainwright reiterated a “buy” rating and set a $11.00 price objective (down from $14.00) on shares of T2 Biosystems in a research report on Friday, March 8th. Finally, Cantor Fitzgerald set a $11.00 price objective on T2 Biosystems and gave the company a “buy” rating in a research report on Tuesday, March 5th.
In related news, CEO John Mcdonough sold 8,134 shares of the firm’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $3.36, for a total transaction of $27,330.24. Following the transaction, the chief executive officer now directly owns 456,354 shares in the company, valued at approximately $1,533,349.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 34,587 shares of company stock worth $117,854. 31.50% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of T2 Biosystems by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 375,582 shares of the medical equipment provider’s stock worth $1,130,000 after buying an additional 13,552 shares in the last quarter. Bell & Brown Wealth Advisors LLC purchased a new stake in shares of T2 Biosystems in the fourth quarter worth about $38,000. Pathlight Investors LLC purchased a new stake in shares of T2 Biosystems in the fourth quarter worth about $117,000. Jane Street Group LLC purchased a new stake in T2 Biosystems during the fourth quarter valued at approximately $67,000. Finally, Squarepoint Ops LLC raised its position in T2 Biosystems by 48.7% during the fourth quarter. Squarepoint Ops LLC now owns 53,964 shares of the medical equipment provider’s stock valued at $162,000 after purchasing an additional 17,664 shares during the period. Institutional investors and hedge funds own 50.00% of the company’s stock.
Shares of T2 Biosystems stock traded up $0.03 during trading on Friday, hitting $2.65. 1,108,175 shares of the stock traded hands, compared to its average volume of 664,775. The company has a current ratio of 7.16, a quick ratio of 6.81 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $119.35 million, a PE ratio of -2.10 and a beta of 1.87. T2 Biosystems has a 52 week low of $2.47 and a 52 week high of $9.98.
T2 Biosystems (NASDAQ:TTOO) last announced its quarterly earnings data on Thursday, March 7th. The medical equipment provider reported ($0.35) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.04). The firm had revenue of $1.79 million for the quarter, compared to the consensus estimate of $2.52 million. T2 Biosystems had a negative net margin of 487.17% and a negative return on equity of 336.09%. As a group, analysts predict that T2 Biosystems will post -1.03 earnings per share for the current fiscal year.
About T2 Biosystems
T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States. 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.
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