Coverage of T2 Biosystems (NASDAQ: TTOO) launched on StockNews.com
Equity researchers at StockNews.com began to cover the shares of T2 Biosystems (NASDAQ: TTOO – Get a rating) in a report released Wednesday. The brokerage has set a “hold” rating on the shares of the medical equipment supplier.
Shares of TTOO opened at $0.17 on Wednesday. The company has a fifty-day moving average of $0.28 and a 200-day moving average of $0.39. T2 Biosystems has a 52 week minimum of $0.15 and a 52 week maximum of $1.27. The company has a market capitalization of $28.73 million, a PE ratio of -0.51 and a beta of 0.53.
T2 Biosystems (NASDAQ: TTOO – Get a rating) last reported results on Thursday, May 5. The medical equipment supplier reported ($0.10) earnings per share for the quarter. T2 Biosystems had a negative return on equity of 1,278.55% and a negative net margin of 194.37%. The company had revenue of $7.23 million in the quarter.
A number of hedge funds have recently changed their holdings of TTOO. Franklin Resources Inc. acquired a new stake in T2 Biosystems in the third quarter worth approximately $102,000. Geode Capital Management LLC increased its equity stake in T2 Biosystems by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,516,085 shares of the medical equipment supplier worth $1,387,000 after purchasing an additional 23,473 shares during the period. Commonwealth Equity Services LLC increased its holdings of T2 Biosystems shares by 45.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 89,510 shares of the medical equipment supplier worth $46,000 after purchasing an additional 28,000 shares during the period. State Street Corp increased its holdings of T2 Biosystems shares 11.4% in the first quarter. State Street Corp now owns 646,500 shares of the medical equipment supplier worth $339,000 after purchasing an additional 66,052 shares during the period. Finally, Morgan Stanley increased its position in T2 Biosystems by 145.7% during the first quarter. Morgan Stanley now owns 171,988 shares of the medical equipment supplier valued at $278,000 after acquiring an additional 101,984 shares last quarter. 11.23% of the shares are currently held by institutional investors.
T2 Biosystems Company Profile (Get a rating)
T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States and internationally. Its technology enables the detection of pathogens, biomarkers and other abnormalities in various types of unpurified patient samples, including whole blood, plasma, serum, saliva, sputum, cerebrospinal fluid and urine.
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