T2 Biosystems (NASDAQ:TTOO) Given New $3.00 Price Target at Canaccord Genuity Group

T2 Biosystems (NASDAQ:TTOO) had its price target cut by Canaccord Genuity Group from $12.00 to $3.00 in a report issued on Monday, Benzinga reports. They currently have a hold rating on the medical equipment provider’s stock.

T2 Biosystems Trading Up 3.5 %

T2 Biosystems stock opened at $2.94 on Monday. T2 Biosystems has a 1 year low of $2.60 and a 1 year high of $70.00. The firm’s 50 day moving average price is $3.76 and its 200-day moving average price is $10.22.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in T2 Biosystems stock. Patriot Financial Group Insurance Agency LLC purchased a new position in shares of T2 Biosystems, Inc. (NASDAQ:TTOO) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 127,234 shares of the medical equipment provider’s stock, valued at approximately $28,000. Patriot Financial Group Insurance Agency LLC owned 3.81% of T2 Biosystems at the end of the most recent quarter. Hedge funds and other institutional investors own 23.18% 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.