T2 Biosystems (NASDAQ:TTOO) Coverage Initiated at StockNews.com

Analysts at StockNews.com began coverage on shares of T2 Biosystems (NASDAQ:TTOO) in a report issued on Tuesday. The brokerage set a “sell” rating on the medical equipment provider’s stock.

T2 Biosystems Price Performance

Shares of NASDAQ TTOO opened at $0.26 on Tuesday. The stock’s fifty day moving average price is $0.43 and its two-hundred day moving average price is $2.07. T2 Biosystems has a one year low of $0.25 and a one year high of $6.95.

Hedge Funds Weigh In On T2 Biosystems

A hedge fund recently bought a new stake in T2 Biosystems stock. Armistice Capital LLC purchased a new position in shares of T2 Biosystems, Inc. (NASDAQ:TTOO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,658,000 shares of the medical equipment provider’s stock, valued at approximately $8,854,000. Armistice Capital LLC owned approximately 9.49% of T2 Biosystems at the end of the most recent reporting period. 23.18% of the stock is owned by hedge funds and other 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.