T2 Biosystems (NASDAQ:TTOO) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of T2 Biosystems (NASDAQ:TTOO) in a research note issued to investors on Tuesday. The firm set a “sell” rating on the medical equipment provider’s stock.

T2 Biosystems Stock Performance

Shares of TTOO opened at $0.26 on Tuesday. The company’s fifty day simple moving average is $0.43 and its 200 day simple moving average is $2.07. T2 Biosystems has a 1-year low of $0.25 and a 1-year high of $6.95.

Hedge Funds Weigh In On T2 Biosystems

A hedge fund recently bought a new stake in T2 Biosystems stock. Armistice Capital LLC acquired a new stake in T2 Biosystems, Inc. (NASDAQ:TTOO) during the 2nd quarter, according to its most recent filing with the Securities & 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 at the end of the most recent reporting period. 23.18% of the stock is owned by institutional investors and hedge funds.

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.