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

Investment analysts at StockNews.com began coverage on shares of T2 Biosystems (NASDAQ:TTOO) in a research report issued to clients and investors on Sunday. The brokerage set a “sell” rating on the medical equipment provider’s stock.

T2 Biosystems Stock Performance

T2 Biosystems stock opened at $0.41 on Friday. T2 Biosystems has a 1-year low of $0.31 and a 1-year high of $6.95. The firm has a 50-day moving average of $0.53 and a 200-day moving average of $2.44.

Institutional Trading of T2 Biosystems

A hedge fund recently bought a new stake in T2 Biosystems stock. Armistice Capital LLC purchased a new stake in shares of T2 Biosystems, Inc. (NASDAQ:TTOO) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 at the end of the most recent reporting period. 23.18% of the stock is owned by 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.