T2 Biosystems (NASDAQ:TTOO) Earns Sell Rating from Analysts at StockNews.com

Investment analysts at StockNews.com initiated coverage on shares of T2 Biosystems (NASDAQ:TTOO) in a research report issued on Saturday. The brokerage set a “sell” rating on the medical equipment provider’s stock.

T2 Biosystems Stock Performance

Shares of NASDAQ TTOO opened at $0.43 on Friday. T2 Biosystems has a fifty-two week low of $0.31 and a fifty-two week high of $8.38. The company’s 50 day simple moving average is $0.62 and its 200 day simple moving average is $2.61.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in T2 Biosystems stock. Armistice Capital LLC acquired a new stake in T2 Biosystems, Inc. (NASDAQ:TTOO) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 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 quarter. Hedge funds and other institutional investors own 23.18% of the company’s stock.

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.