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

StockNews.com assumed coverage on shares of T2 Biosystems (NASDAQ:TTOO) in a research report sent to investors on Sunday morning. The firm issued a sell rating on the medical equipment provider’s stock.

T2 Biosystems Stock Up 2.5 %

T2 Biosystems stock opened at $0.41 on Friday. T2 Biosystems has a 52-week low of $0.31 and a 52-week high of $6.95. The firm’s fifty day moving average is $0.53 and its 200 day moving average is $2.46.

Institutional Investors Weigh In On T2 Biosystems

A hedge fund recently bought a new stake in T2 Biosystems stock. Armistice Capital LLC bought a new position in T2 Biosystems, Inc. (NASDAQ:TTOO) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 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 as of its most recent filing with the SEC. 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.