StockNews.com Begins Coverage on T2 Biosystems (NASDAQ:TTOO)

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

T2 Biosystems Stock Performance

Shares of NASDAQ TTOO opened at $0.23 on Tuesday. The firm’s 50 day moving average price is $0.42 and its 200 day moving average price is $2.01. T2 Biosystems has a 1 year low of $0.22 and a 1 year high of $6.95.

Hedge Funds Weigh In On T2 Biosystems

An institutional investor recently bought a new position in T2 Biosystems stock. Armistice Capital LLC purchased a new stake in T2 Biosystems, Inc. (NASDAQ:TTOO) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,658,000 shares of the medical equipment provider’s stock, valued at approximately $8,854,000. Armistice Capital LLC owned 9.49% of T2 Biosystems at the end of the most recent reporting period. 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.