T2 Biosystems (NASDAQ:TTOO) Now Covered by StockNews.com

Research analysts at StockNews.com initiated coverage on shares of T2 Biosystems (NASDAQ:TTOO) in a report released on Saturday. The firm set a “sell” rating on the medical equipment provider’s stock.

T2 Biosystems Price Performance

Shares of NASDAQ TTOO opened at $0.43 on Friday. T2 Biosystems has a 52 week low of $0.31 and a 52 week high of $8.38. The business has a 50 day simple moving average of $0.62 and a 200 day simple moving average of $2.64.

Institutional Investors Weigh In On T2 Biosystems

A hedge fund recently bought a new stake in T2 Biosystems stock. Armistice Capital LLC acquired a new position in shares of T2 Biosystems, Inc. (NASDAQ:TTOO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,658,000 shares of the medical equipment provider’s stock, valued at approximately $8,854,000. Armistice Capital LLC owned about 9.49% of T2 Biosystems as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 23.18% of the company’s stock.

About T2 Biosystems

T2 Biosystems, Inc, an in vitro diagnostics company, develops and sells 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.