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

StockNews.com initiated coverage on shares of T2 Biosystems (NASDAQ:TTOO) in a research report report published on Monday. The firm issued a sell rating on the medical equipment provider’s stock.

Separately, Canaccord Genuity Group raised their price target on T2 Biosystems from $3.00 to $5.00 and gave the company a “hold” rating in a report on Tuesday, July 30th.

T2 Biosystems Stock Performance

NASDAQ TTOO opened at $0.49 on Monday. The stock’s 50 day simple moving average is $1.27 and its 200 day simple moving average is $3.37. T2 Biosystems has a one year low of $0.42 and a one year high of $8.38.

Institutional Investors Weigh In On T2 Biosystems

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

T2 Biosystems Company Profile

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.