T2 Biosystems Inc (NASDAQ:TTOO) – Equities researchers at Svb Leerink issued their Q1 2021 earnings estimates for shares of T2 Biosystems in a research report issued to clients and investors on Monday, December 2nd, Zacks Investment Research reports. Svb Leerink analyst P. Souda anticipates that the medical equipment provider will earn ($0.17) per share for the quarter. Svb Leerink has a “Outperform” rating and a $5.00 price target on the stock. Svb Leerink also issued estimates for T2 Biosystems’ Q2 2021 earnings at ($0.14) EPS and Q3 2021 earnings at ($0.11) EPS.
Other equities analysts have also issued research reports about the company. Canaccord Genuity reissued a “buy” rating and issued a $3.00 target price on shares of T2 Biosystems in a research report on Wednesday, November 13th. Leerink Swann set a $5.00 price target on shares of T2 Biosystems and gave the stock a “buy” rating in a research note on Thursday, September 12th. HC Wainwright reissued a “hold” rating on shares of T2 Biosystems in a report on Thursday, November 21st. Janney Montgomery Scott downgraded shares of T2 Biosystems from a “buy” rating to a “neutral” rating in a research report on Tuesday, November 26th. Finally, Zacks Investment Research raised shares of T2 Biosystems from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. T2 Biosystems presently has an average rating of “Hold” and an average price target of $5.14.
Shares of NASDAQ:TTOO traded up $0.02 during midday trading on Wednesday, reaching $1.10. 457,736 shares of the company’s stock traded hands, compared to its average volume of 550,528. T2 Biosystems has a one year low of $0.52 and a one year high of $5.38. The stock has a 50 day moving average of $1.44 and a 200 day moving average of $1.74.
T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings data on Monday, November 18th. The medical equipment provider reported ($0.31) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.31). T2 Biosystems had a negative return on equity of 1,263.80% and a negative net margin of 851.71%. The business had revenue of $1.68 million for the quarter, compared to analysts’ expectations of $2.17 million.
Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of 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 valued at $2,336,000 after purchasing an additional 234,369 shares during the last quarter. Ardsley Advisory Partners LP grew its position in T2 Biosystems by 6.1% during the second quarter. Ardsley Advisory Partners LP now owns 875,000 shares of the medical equipment provider’s stock valued at $1,470,000 after buying an additional 50,000 shares during the period. JPMorgan Chase & Co. grew its position in T2 Biosystems by 7,546.7% during the second quarter. JPMorgan Chase & Co. now owns 732,400 shares of the medical equipment provider’s stock valued at $1,150,000 after buying an additional 722,822 shares during the period. Essex Investment Management Co. LLC purchased a new stake in T2 Biosystems during the third quarter valued at approximately $830,000. Finally, Granahan Investment Management Inc. MA purchased a new stake in T2 Biosystems during the third quarter valued at approximately $544,000. Institutional investors and hedge funds own 23.60% of the company’s stock.
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.
