T2 Biosystems Inc (TTOO) Lowered to Sell at Zacks Investment Research

T2 Biosystems Inc (TTOO) Lowered to Sell at Zacks Investment Research

T2 Biosystems Inc (NASDAQ:TTOO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “T2 Biosystems, Inc. is an in vitro diagnostics company. It has developed a technology platform that is designed to offer a rapid, sensitive and simple alternative to existing diagnostic methodologies. The Company uses its T2 Magnetic Resonance platform, or T2MR, that enables rapid detection of pathogens, biomarkers and other abnormalities in a variety of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets. It operates primarily in the United States. T2 Biosystems, Inc. is headquartered in Lexington, Massachusetts. “

A number of other research analysts have also weighed in on TTOO. Canaccord Genuity set a $9.00 price objective on T2 Biosystems and gave the company a “buy” rating in a report on Monday, January 23rd. WBB Securities restated a “buy” rating and issued a $12.00 price objective on shares of T2 Biosystems in a report on Sunday, February 5th. Cantor Fitzgerald set a $7.00 price objective on T2 Biosystems and gave the company a “buy” rating in a report on Tuesday, February 14th. Finally, Morgan Stanley lowered T2 Biosystems from an “equal weight” rating to an “underweight” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $7.21.

T2 Biosystems (NASDAQ:TTOO) opened at 6.07 on Wednesday. The company’s market capitalization is $185.03 million. T2 Biosystems has a 12-month low of $4.89 and a 12-month high of $11.30. The stock has a 50 day moving average of $5.76 and a 200-day moving average of $6.10.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in T2 Biosystems by 1.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,223,416 shares of the company’s stock valued at $41,642,000 after buying an additional 48,529 shares in the last quarter. Aisling Capital LLC raised its position in T2 Biosystems by 12.2% in the fourth quarter. Aisling Capital LLC now owns 2,830,992 shares of the company’s stock valued at $30,971,000 after buying an additional 307,692 shares in the last quarter. Senvest Management LLC raised its position in T2 Biosystems by 14.9% in the third quarter. Senvest Management LLC now owns 1,898,080 shares of the company’s stock valued at $13,742,000 after buying an additional 246,849 shares in the last quarter. Lagoda Investment Management L.P. bought a new position in T2 Biosystems during the third quarter valued at approximately $13,625,000. Finally, Tiger Management L.L.C. raised its position in T2 Biosystems by 5.0% in the third quarter. Tiger Management L.L.C. now owns 1,307,639 shares of the company’s stock valued at $9,467,000 after buying an additional 62,501 shares in the last quarter. Institutional investors and hedge funds own 68.08% of the company’s stock.

About T2 Biosystems

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).

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