T2 Biosystems (NASDAQ:TTOO) Stock Price Passes Above Fifty Day Moving Average of $4.57

Shares of T2 Biosystems, Inc. (NASDAQ:TTOO) crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $4.57 and traded as high as $5.54. T2 Biosystems shares last traded at $5.34, with a volume of 93,023 shares.

Analysts Set New Price Targets

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

T2 Biosystems Stock Performance

The firm has a fifty day moving average price of $4.57 and a 200 day moving average price of $4.48.

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

Hedge Funds Weigh In On T2 Biosystems

A hedge fund recently raised its stake in T2 Biosystems stock. Virtu Financial LLC increased its position in shares of T2 Biosystems, Inc. (NASDAQ:TTOO) by 29.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,096 shares of the medical equipment provider’s stock after acquiring an additional 3,018 shares during the quarter. Virtu Financial LLC owned about 0.24% of T2 Biosystems worth $39,000 at the end of the most recent quarter. 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.