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

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

T2 Biosystems Price Performance

Shares of TTOO opened at $0.32 on Monday. T2 Biosystems has a 12-month low of $0.31 and a 12-month high of $6.95. The firm has a 50-day moving average price of $0.47 and a 200 day moving average price of $2.25.

Institutional Trading of T2 Biosystems

A hedge fund recently bought a new stake in T2 Biosystems stock. Armistice Capital LLC acquired a new position in T2 Biosystems, Inc. (NASDAQ:TTOO) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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. 23.18% of the stock is currently owned by hedge funds and other institutional investors.

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.