T2 Biosystems (NASDAQ:TTOO) Issues Quarterly Earnings Results, Beats Expectations By $0.31 EPS

T2 Biosystems (NASDAQ:TTOO) posted its quarterly earnings data on Monday. The medical equipment provider reported ($0.66) EPS for the quarter, beating analysts’ consensus estimates of ($0.97) by $0.31, Yahoo Finance reports. The company had revenue of $1.95 million for the quarter. T2 Biosystems updated its FY 2024 guidance to EPS.

T2 Biosystems Price Performance

Shares of NASDAQ:TTOO traded up $0.04 during trading on Wednesday, reaching $4.93. 34,949 shares of the company’s stock traded hands, compared to its average volume of 271,566. T2 Biosystems has a 12 month low of $2.60 and a 12 month high of $70.00. The company has a 50 day moving average of $5.11 and a 200-day moving average of $4.47.

Wall Street Analyst Weigh In

TTOO has been the topic of several research analyst reports. StockNews.com raised shares of T2 Biosystems to a “sell” rating in a research report on Tuesday. Canaccord Genuity Group upped their price objective on T2 Biosystems from $3.00 to $5.00 and gave the company a “hold” rating in a research note on Tuesday.

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.