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

StockNews.com initiated coverage on shares of T2 Biosystems (NASDAQ:TTOO) in a research note issued to investors on Saturday morning. The brokerage issued a sell rating on the medical equipment provider’s stock.

T2 Biosystems Trading Up 3.7 %

Shares of TTOO opened at $0.43 on Friday. T2 Biosystems has a 1-year low of $0.31 and a 1-year high of $8.38. The company has a 50-day moving average of $0.62 and a 200 day moving average of $2.62.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in T2 Biosystems stock. Armistice Capital LLC purchased a new position in T2 Biosystems, Inc. (NASDAQ:TTOO) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 9.49% of T2 Biosystems as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds 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.