T2 Biosystems Inc (TTOO) was Downgraded by Morgan Stanley to ” Underweight”. Earlier the firm had a rating of “Equal-Weight ” on the company shares. Morgan Stanley advised their Clients and Investors in a research report released on Mar 15, 2017.
Based on several research reports , T2 Biosystems Inc was Downgraded by Morgan Stanley to ” Underweight” on Mar 15, 2017.
Several company insiders have filed Insider transactions , on Jul 5, 2016, Rahul Dhanda (SVP of Corporate Development) sold 3,589 shares at $8.16 per share price. According to the SEC, on Dec 10, 2015, David B Elsbree (director) purchased 10,000 shares at $9.75 per share price. On Aug 11, 2015, Michael J. Cima (director) purchased 1,000 shares at $14.01 per share price, according to the Form-4 filing with the securities and exchange commission.
On the company’s financial health, T2 Biosystems Inc reported $-0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Nov 1, 2016. Analyst had a consensus of $-0.53. The company had revenue of $1.08 million for the quarter, compared to analysts expectations of $2.03 million. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.57 EPS.
T2 Biosystems Inc closed down -0.02 points or -0.33% at $6.05 with 67,482 shares getting traded on Wednesday. Post opening the session at $5.7, the shares hit an intraday low of $5.6 and an intraday high of $6.07 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
T2 Biosystems Inc. is an in vitro diagnostics company that has developed a technology platform offering an alternative to diagnostic methodologies. The Company’s T2 Magnetic Resonance platform (T2MR) enables detection of pathogens biomarkers and other abnormalities in a range of unpurified patient sample types including whole blood plasma serum saliva sputum and urine and can detect cellular targets at limits of detection as one colony forming unit per milliliter (CFU/mL). The Company’s initial development efforts target sepsis hemostasis and Lyme disease areas of significant unmet medical need. Its platform detects a range of targets including molecular targets such as deoxyribonucleic acid (DNA) immunodiagnostics such as proteins and a range of hemostasis measurements. The initial panels designed to run on T2Dx are T2Candida and T2Bacteria which are focused on identifying life-threatening pathogens associated with sepsis.