T2 Biosystems (NASDAQ:TTOO) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of T2 Biosystems (NASDAQ:TTOO) in a research report sent to investors on Tuesday morning. The brokerage issued a sell rating on the medical equipment provider’s stock.

T2 Biosystems Trading Down 5.0 %

Shares of T2 Biosystems stock opened at $0.26 on Tuesday. The firm’s 50-day moving average is $0.27 and its 200 day moving average is $0.29. T2 Biosystems has a 1 year low of $0.05 and a 1 year high of $6.24.

T2 Biosystems (NASDAQ:TTOO) last posted its earnings results on Monday, August 7th. The medical equipment provider reported ($0.08) earnings per share (EPS) for the quarter. The business had revenue of $1.96 million for the quarter.

Institutional Investors Weigh In On T2 Biosystems

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC purchased a new stake in T2 Biosystems in the 3rd quarter worth approximately $28,000. Virtu Financial LLC increased its holdings in T2 Biosystems by 1,763.1% in the 2nd quarter. Virtu Financial LLC now owns 323,427 shares of the medical equipment provider’s stock worth $52,000 after acquiring an additional 306,067 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in T2 Biosystems by 449.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 538,540 shares of the medical equipment provider’s stock worth $61,000 after acquiring an additional 440,531 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in T2 Biosystems in the 2nd quarter worth approximately $67,000. Finally, Anson Funds Management LP purchased a new stake in T2 Biosystems during the 1st quarter valued at approximately $242,000. Hedge funds and other institutional investors own 3.74% of the company’s stock.

About T2 Biosystems

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.