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

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

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

T2 Biosystems Stock Up 2.7 %

Shares of TTOO stock opened at $0.50 on Monday. The stock’s 50-day moving average is $1.17 and its 200 day moving average is $3.31. T2 Biosystems has a 1-year low of $0.42 and a 1-year high of $8.38.

Institutional Trading of T2 Biosystems

An institutional investor recently bought a new position in T2 Biosystems stock. Armistice Capital LLC purchased a new position in T2 Biosystems, Inc. (NASDAQ:TTOO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 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 at the end of the most recent reporting period. 23.18% of the stock is currently owned by institutional investors.

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.