Media headlines about T2 Biosystems (NASDAQ:TTOO) have been trending somewhat positive this week, Accern Sentiment Analysis reports. Accern identifies positive and negative media coverage by reviewing more than twenty million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. T2 Biosystems earned a media sentiment score of 0.06 on Accern’s scale. Accern also gave news articles about the medical equipment provider an impact score of 47.4638951715415 out of 100, indicating that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.
Shares of T2 Biosystems (NASDAQ:TTOO) traded down 2.91% on Friday, hitting $4.00. The stock had a trading volume of 65,116 shares. The firm’s market cap is $123.06 million. T2 Biosystems has a 12-month low of $2.50 and a 12-month high of $8.04. The company’s 50-day moving average price is $3.14 and its 200 day moving average price is $4.25.
T2 Biosystems (NASDAQ:TTOO) last released its quarterly earnings results on Thursday, August 3rd. The medical equipment provider reported ($0.50) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.49) by $0.01. The business had revenue of $0.96 million for the quarter, compared to the consensus estimate of $0.79 million. T2 Biosystems had a negative return on equity of 178.83% and a negative net margin of 1,473.71%. On average, equities research analysts forecast that T2 Biosystems will post ($1.93) earnings per share for the current fiscal year.
Several research analysts have issued reports on TTOO shares. BTIG Research upgraded T2 Biosystems from a “sell” rating to a “neutral” rating and set a $4.00 price objective for the company in a research report on Monday, May 8th. Zacks Investment Research cut T2 Biosystems from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, Cantor Fitzgerald cut their price objective on T2 Biosystems from $7.00 to $6.00 and set an “overweight” rating for the company in a research report on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $6.75.
In other news, Director David B. Elsbree acquired 10,000 shares of the firm’s stock in a transaction on Tuesday, June 6th. The shares were purchased at an average cost of $3.50 per share, for a total transaction of $35,000.00. Following the transaction, the director now owns 50,000 shares of the company’s stock, valued at $175,000. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders acquired a total of 20,000 shares of company stock worth $70,330 over the last quarter. Corporate insiders own 38.70% of the company’s stock.
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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