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

Equities research analysts at StockNews.com assumed coverage on shares of T2 Biosystems (NASDAQ:TTOO) in a note issued to investors on Friday. The brokerage set a “sell” rating on the medical equipment provider’s stock.

T2 Biosystems Stock Down 4.5 %

Shares of NASDAQ TTOO opened at $0.33 on Friday. T2 Biosystems has a fifty-two week low of $0.31 and a fifty-two week high of $8.38. The firm’s 50-day simple moving average is $0.75 and its 200 day simple moving average is $2.81.

Institutional Investors Weigh In On T2 Biosystems

An institutional investor recently bought a new position in T2 Biosystems stock. Armistice Capital LLC acquired a new position in shares of T2 Biosystems, Inc. (NASDAQ:TTOO) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,658,000 shares of the medical equipment provider’s stock, valued at approximately $8,854,000. Armistice Capital LLC owned about 9.49% of T2 Biosystems at the end of the most recent reporting period. Institutional investors and hedge funds own 23.18% of the company’s stock.

T2 Biosystems Company Profile

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.