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

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

T2 Biosystems Trading Up 4.8 %

NASDAQ TTOO opened at $0.35 on Friday. T2 Biosystems has a fifty-two week low of $0.31 and a fifty-two week high of $8.38. The stock has a 50 day simple moving average of $0.73 and a two-hundred day simple moving average of $2.76.

Institutional Trading of T2 Biosystems

An institutional investor recently bought a new position in T2 Biosystems stock. Armistice Capital LLC bought a new position in T2 Biosystems, Inc. (NASDAQ:TTOO) in the 2nd quarter, according to its most recent disclosure with the SEC. 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 at the end of the most recent quarter. 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.