StockNews.com Initiates Coverage on T2 Biosystems (NASDAQ:TTOO)

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

Separately, Canaccord Genuity Group boosted their price objective on T2 Biosystems from $3.00 to $5.00 and gave the stock a “hold” rating in a research note on Tuesday, July 30th.

T2 Biosystems Trading Down 1.0 %

Shares of TTOO opened at $0.49 on Monday. T2 Biosystems has a one year low of $0.42 and a one year high of $8.38. The stock has a 50 day moving average price of $1.24 and a 200 day moving average price of $3.35.

Hedge Funds Weigh In On T2 Biosystems

A hedge fund recently raised its stake in T2 Biosystems stock. Virtu Financial LLC grew its holdings in T2 Biosystems, Inc. (NASDAQ:TTOO) by 29.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,096 shares of the medical equipment provider’s stock after purchasing an additional 3,018 shares during the period. Virtu Financial LLC owned approximately 0.24% of T2 Biosystems worth $39,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors 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.