T2 Biosystems (NASDAQ:TTOO) Stock Price Passes Above Fifty Day Moving Average of $4.57

T2 Biosystems, Inc. (NASDAQ:TTOO)’s share price passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $4.57 and traded as high as $5.54. T2 Biosystems shares last traded at $5.34, with a volume of 93,023 shares traded.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group decreased their price objective on shares of T2 Biosystems from $12.00 to $3.00 and set a “hold” rating on the stock in a research report on Monday, April 29th.

T2 Biosystems Stock Down 1.7 %

The firm’s 50 day moving average is $4.57 and its two-hundred day moving average is $4.48.

T2 Biosystems (NASDAQ:TTOO) last announced its earnings results on Monday, May 6th. The medical equipment provider reported ($2.66) earnings per share for the quarter. The company had revenue of $2.06 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in T2 Biosystems stock. Virtu Financial LLC boosted its position in T2 Biosystems, Inc. (NASDAQ:TTOO) by 29.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,096 shares of the medical equipment provider’s stock after purchasing an additional 3,018 shares during the quarter. Virtu Financial LLC owned about 0.24% of T2 Biosystems worth $39,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors 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.