T2 Biosystems (NASDAQ:TTOO) Stock Price Crosses Above Fifty Day Moving Average of $1.61

T2 Biosystems, Inc. (NASDAQ:TTOO – Get Rating)’s share price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $1.61 and traded as high as $1.83. T2 Biosystems shares last traded at $1.82, with a volume of 43,805 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TTOO shares. StockNews.com started coverage on T2 Biosystems in a research report on Thursday, October 20th. They set a “sell” rating for the company. Canaccord Genuity Group lowered T2 Biosystems from a “buy” rating to a “hold” rating and decreased their target price for the company from $12.50 to $2.50 in a research report on Friday, October 14th. Finally, Canaccord Genuity Group reaffirmed a “hold” rating on shares of T2 Biosystems in a research report on Friday, October 14th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $18.75.

T2 Biosystems Trading Up 2.8 %

The firm has a fifty day moving average of $1.61 and a two-hundred day moving average of $4.87. The company has a market cap of $12.83 million, a PE ratio of -0.11 and a beta of 0.21.

T2 Biosystems (NASDAQ:TTOO – Get Rating) last announced its quarterly earnings data on Thursday, November 10th. The medical equipment provider reported ($2.95) earnings per share for the quarter. The company had revenue of $3.68 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Gagnon Securities LLC grew its holdings in T2 Biosystems by 0.7% during the 3rd quarter. Gagnon Securities LLC now owns 766,302 shares of the medical equipment provider’s stock valued at $87,000 after buying an additional 5,000 shares in the last quarter. State Street Corp grew its holdings in T2 Biosystems by 11.4% during the 1st quarter. State Street Corp now owns 646,500 shares of the medical equipment provider’s stock valued at $339,000 after buying an additional 66,052 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. grew its holdings in T2 Biosystems by 318.0% during the 2nd quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 236,605 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 180,000 shares in the last quarter. Jane Street Group LLC purchased a new position in T2 Biosystems during the 3rd quarter valued at about $28,000. Finally, Virtu Financial LLC grew its holdings in T2 Biosystems by 1,763.1% during the 2nd quarter. Virtu Financial LLC now owns 323,427 shares of the medical equipment provider’s stock valued at $52,000 after buying an additional 306,067 shares in the last quarter.

About T2 Biosystems

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T2 Biosystems, Inc engages in the development of a proprietary technology platform. It offers the T2 Magnetic Resonance technology, which enables detection of pathogens, biomarkers, and other abnormalities in a range of unpurified patient sample types. The firm’s products include the T2Dx Instrument, the T2Candida Panel, the T2Bacteria Panel, the T2Resistance Panel, and the T2SARS-CoV-2 Panel.