T2 Biosystems (NASDAQ:TTOO) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

T2 Biosystems, Inc. (NASDAQ:TTOO)’s share price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.75 and traded as low as $1.38. T2 Biosystems shares last traded at $1.44, with a volume of 4,034,508 shares trading hands.

Wall Street Analysts Forecast Growth

TTOO has been the topic of a number of research analyst reports. StockNews.com upgraded shares of T2 Biosystems to a “sell” rating in a research note on Tuesday, July 30th. Canaccord Genuity Group lifted their price target on T2 Biosystems from $3.00 to $5.00 and gave the company a “hold” rating in a research report on Tuesday, July 30th.

T2 Biosystems Trading Down 14.3 %

The business has a fifty day moving average of $2.29 and a 200-day moving average of $3.72.

T2 Biosystems (NASDAQ:TTOO) last posted its quarterly earnings results on Monday, July 29th. The medical equipment provider reported ($0.66) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.97) by $0.31. The business had revenue of $1.95 million during the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in T2 Biosystems stock. Virtu Financial LLC increased its position in T2 Biosystems, Inc. (NASDAQ:TTOO) by 29.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 13,096 shares of the medical equipment provider’s stock after purchasing an additional 3,018 shares during the period. Virtu Financial LLC owned about 0.24% of T2 Biosystems worth $39,000 at the end of the most recent reporting period. Hedge funds and other 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.