T2 Biosystems (NASDAQ:TTOO) Stock Crosses Above 50-Day Moving Average of $4.24

Shares of T2 Biosystems, Inc. (NASDAQ:TTOO) passed above its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of $4.24 and traded as high as $6.37. T2 Biosystems shares last traded at $5.76, with a volume of 404,728 shares traded.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group cut their price target on shares of T2 Biosystems from $12.00 to $3.00 and set a “hold” rating for the company in a report on Monday, April 29th.

T2 Biosystems Stock Performance

The firm’s 50-day simple moving average is $4.30 and its 200 day simple moving average is $4.41.

T2 Biosystems (NASDAQ:TTOO) last issued its earnings results on Monday, May 6th. The medical equipment provider reported ($2.66) earnings per share for the quarter. The business had revenue of $2.06 million for the quarter.

Institutional Investors Weigh In On T2 Biosystems

An institutional investor recently raised its position in T2 Biosystems stock. Virtu Financial LLC boosted its position in T2 Biosystems, Inc. (NASDAQ:TTOO) by 29.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,096 shares of the medical equipment provider’s stock after purchasing an additional 3,018 shares during the quarter. Virtu Financial LLC owned about 0.24% of T2 Biosystems worth $39,000 as of its most recent filing with the Securities and Exchange Commission. 23.18% of the stock is owned by institutional investors.

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.