T2 Biosystems (NASDAQ:TTOO) Rating Reiterated by Canaccord Genuity

T2 Biosystems (NASDAQ:TTOO)‘s stock had its “buy” rating reiterated by investment analysts at Canaccord Genuity in a research report issued on Wednesday, AnalystRatings.com reports. They presently have a $3.00 price objective on the medical equipment provider’s stock. Canaccord Genuity’s target price would indicate a potential upside of 70.45% from the company’s previous close.

TTOO has been the subject of a number of other reports. HC Wainwright reiterated a “hold” rating on shares of T2 Biosystems in a research note on Wednesday, August 7th. Janney Montgomery Scott upgraded T2 Biosystems from a “neutral” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Thursday, September 12th. ValuEngine upgraded T2 Biosystems from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Leerink Swann set a $5.00 price target on T2 Biosystems and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, Alliance Global Partners cut T2 Biosystems from a “buy” rating to a “neutral” rating and dropped their price target for the company from $5.00 to $0.40 in a research note on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $5.13.

Shares of T2 Biosystems stock traded up $0.25 on Wednesday, hitting $1.76. The stock had a trading volume of 1,051,400 shares, compared to its average volume of 547,969. T2 Biosystems has a twelve month low of $0.52 and a twelve month high of $5.38. The stock has a market cap of $67.25 million, a price-to-earnings ratio of -1.40 and a beta of 1.23. The business’s 50 day moving average is $2.49 and its two-hundred day moving average is $1.96.

A number of large investors have recently made changes to their positions in TTOO. JPMorgan Chase & Co. raised its position in T2 Biosystems by 7,546.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 732,400 shares of the medical equipment provider’s stock worth $1,150,000 after purchasing an additional 722,822 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in T2 Biosystems during the 3rd quarter worth $830,000. Vanguard Group Inc. raised its position in T2 Biosystems by 20.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,390,197 shares of the medical equipment provider’s stock worth $2,336,000 after purchasing an additional 234,369 shares during the last quarter. Jane Street Group LLC bought a new position in T2 Biosystems during the 2nd quarter worth $316,000. Finally, Paloma Partners Management Co bought a new position in T2 Biosystems during the 2nd quarter worth $235,000. 39.05% of the stock is owned by institutional investors and hedge funds.

About T2 Biosystems

T2 Biosystems, Inc, an in vitro diagnostics company, develops diagnostic products and product candidates in the United States and internationally. It provides T2 Magnetic Resonance platform that enables detection of pathogens, biomarkers, and other abnormalities in various unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum, and urine.

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Analyst Recommendations for T2 Biosystems (NASDAQ:TTOO)

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