T2 Biosystems (NASDAQ:TTOO) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

T2 Biosystems (NASDAQ:TTOOGet Rating) posted its earnings results on Monday. The medical equipment provider reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.01), Fidelity Earnings reports. T2 Biosystems updated its FY 2022 guidance to EPS.

T2 Biosystems Price Performance

Shares of TTOO traded down $0.02 during trading hours on Wednesday, hitting $0.14. The company’s stock had a trading volume of 59,570,834 shares, compared to its average volume of 14,561,928. The company has a market cap of $24.61 million, a price-to-earnings ratio of -0.42 and a beta of 0.48. The business has a 50 day simple moving average of $0.16 and a two-hundred day simple moving average of $0.30. T2 Biosystems has a 52-week low of $0.11 and a 52-week high of $1.12.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TTOO. Alliance Global Partners cut shares of T2 Biosystems from a “buy” rating to a “neutral” rating in a research note on Thursday, July 7th. StockNews.com started coverage on shares of T2 Biosystems in a research note on Wednesday. They set a “hold” rating on the stock. Finally, BTIG Research lowered shares of T2 Biosystems from a “buy” rating to a “neutral” rating in a research report on Thursday, July 7th.

Hedge Funds Weigh In On T2 Biosystems

A hedge fund recently raised its stake in T2 Biosystems stock. State Street Corp lifted its holdings in T2 Biosystems, Inc. (NASDAQ:TTOOGet Rating) by 11.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 646,500 shares of the medical equipment provider’s stock after acquiring an additional 66,052 shares during the quarter. State Street Corp owned 0.38% of T2 Biosystems worth $339,000 at the end of the most recent quarter. Institutional investors own 11.23% of the company’s stock.

About T2 Biosystems

(Get Rating)

T2 Biosystems, Inc, an in vitro diagnostics company, develops 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.

Recommended Stories

Earnings History for T2 Biosystems (NASDAQ:TTOO)

Receive News & Ratings for T2 Biosystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for T2 Biosystems and related companies with MarketBeat.com's FREE daily email newsletter.