TIAA CREF Investment Management LLC reduced its position in shares of T2 Biosystems, Inc. (NASDAQ:TTOO) by 3.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,967 shares of the medical equipment provider’s stock after selling 1,368 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.13% of T2 Biosystems worth $215,000 at the end of the most recent quarter.
Separately, Bank of New York Mellon Corp increased its holdings in T2 Biosystems by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 56,415 shares of the medical equipment provider’s stock worth $297,000 after purchasing an additional 201 shares in the last quarter. 60.55% of the stock is owned by hedge funds and other institutional investors.
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Several equities analysts have recently issued reports on the company. Zacks Investment Research lowered T2 Biosystems from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. ValuEngine raised T2 Biosystems from a “strong sell” rating to a “sell” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $6.75.
T2 Biosystems, Inc. (NASDAQ TTOO) traded down 25.66% during midday trading on Friday, hitting $4.52. The company’s stock had a trading volume of 5,491,030 shares. The firm’s market cap is $139.05 million. The company’s 50 day moving average price is $3.98 and its 200 day moving average price is $4.15. T2 Biosystems, Inc. has a 12 month low of $2.50 and a 12 month high of $8.04.
T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings data on Thursday, August 3rd. The medical equipment provider reported ($0.50) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.49) by ($0.01). The business had revenue of $0.96 million during the quarter, compared to analyst estimates of $0.79 million. T2 Biosystems had a negative return on equity of 178.83% and a negative net margin of 1,473.71%. Analysts expect that T2 Biosystems, Inc. will post ($1.93) EPS for the current year.
T2 Biosystems Company Profile
T2 Biosystems, Inc is an in vitro diagnostics company engaged in developing a technology platform offering an alternative to diagnostic methodologies. The Company’s T2 Magnetic Resonance platform (T2MR) enables detection of pathogens, biomarkers and other abnormalities in a range of unpurified patient sample types, including whole blood, plasma, serum, saliva, sputum and urine, and can detect cellular targets at limits of detection as one colony forming unit per milliliter (CFU/mL).
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