Brokerage firm Morgan Stanley Downgrades its rating on T2 Biosystems Inc(TTOO). As per the latest information, Morgan Stanley Lowers the price target to $5 per share from a prior target of $6. The shares have been rated Underweight. Previously, the analysts had a Equal-Weight rating on the shares. The rating by the stock financial advisor at Morgan Stanley was issued on Mar 15, 2017 in a research report to their Investors and Clients.
In a different note, On Mar 14, 2017, Morgan Stanley said it Downgrades its rating on T2 Biosystems Inc. The shares have been rated ‘Underweight’ by the firm.
T2 Biosystems Inc (TTOO) made into the market gainers list on Fridays trading session with the shares advancing 3.77% or 0.22 points. Due to strong positive momentum, the stock ended at $6.06, which is also near the day’s high of $6.29. The stock began the session at $5.72 and the volume stood at 2,13,735 shares. The 52-week high of the shares is $11.3 and the 52 week low is $4.89. The company has a current market capitalization of $185 M and it has 3,05,76,110 shares in outstanding.
T2 Biosystems Inc(TTOO) last announced its earnings results on Nov 1, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $1.08M. Analysts had an estimated revenue of $2.03M. Earnings per share were $-0.51. The reported EPS was above estimates by $0.01 or 1.92%. Analysts had estimated an EPS of $-0.52.
Several Insider Transactions has been reported to the SEC. On Jul 5, 2016, Rahul Dhanda (SVP of Corporate Development) sold 3,589 shares at $8.16 per share price.Also, On Dec 10, 2015, David B Elsbree (director) purchased 10,000 shares at $9.75 per share price.On Aug 11, 2015, Michael J. Cima (director) purchased 1,000 shares at $14.01 per share price, according to the Form-4 filing with the securities and exchange commission.
T2 Biosystems Inc. is an in vitro diagnostics company that has developed 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). The Company’s initial development efforts target sepsis hemostasis and Lyme disease areas of significant unmet medical need. Its platform detects a range of targets including molecular targets such as deoxyribonucleic acid (DNA) immunodiagnostics such as proteins and a range of hemostasis measurements. The initial panels designed to run on T2Dx are T2Candida and T2Bacteria which are focused on identifying life-threatening pathogens associated with sepsis.