T2 Biosystems (NASDAQ:TTOO) has been given a $8.00 price objective by equities research analysts at HC Wainwright in a research note issued to investors on Wednesday. The firm presently has a “buy” rating on the medical equipment provider’s stock. HC Wainwright’s target price indicates a potential upside of 29.24% from the stock’s current price.
A number of other equities analysts have also issued reports on the stock. Goldman Sachs Group began coverage on shares of T2 Biosystems in a research report on Monday, January 29th. They set a “neutral” rating and a $5.20 target price on the stock. Zacks Investment Research downgraded shares of T2 Biosystems from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $5.56.
T2 Biosystems (NASDAQ:TTOO) opened at $6.19 on Wednesday. T2 Biosystems has a 12-month low of $2.50 and a 12-month high of $6.99. The stock has a market cap of $220.32, a P/E ratio of -3.26 and a beta of 1.49. The company has a debt-to-equity ratio of 2.25, a quick ratio of 5.28 and a current ratio of 5.40.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its stake in T2 Biosystems by 72.2% in the fourth quarter. Renaissance Technologies LLC now owns 83,500 shares of the medical equipment provider’s stock valued at $344,000 after purchasing an additional 35,000 shares in the last quarter. Gagnon Securities LLC bought a new stake in T2 Biosystems in the third quarter valued at approximately $396,000. Geode Capital Management LLC increased its stake in T2 Biosystems by 41.9% in the fourth quarter. Geode Capital Management LLC now owns 134,470 shares of the medical equipment provider’s stock valued at $554,000 after purchasing an additional 39,722 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in T2 Biosystems in the third quarter valued at approximately $630,000. Finally, Lagoda Investment Management L.P. increased its stake in T2 Biosystems by 61.4% in the third quarter. Lagoda Investment Management L.P. now owns 3,188,539 shares of the medical equipment provider’s stock valued at $13,392,000 after purchasing an additional 1,212,618 shares in the last quarter. 52.61% of the stock is owned by institutional investors and hedge funds.
T2 Biosystems Company Profile
T2 Biosystems, Inc is an in vitro diagnostics company engaged in developing a technology platform offering an alternative to diagnostic methodologies. The Company’s T2 Magnetic Resonance platform (T2MR) enables detection of pathogens, biomarkers and other abnormalities in a range of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as one colony forming unit per milliliter (CFU/mL).