T2 Biosystems (NASDAQ:TTOO) Issues Quarterly Earnings Results, Beats Expectations By $0.31 EPS

T2 Biosystems (NASDAQ:TTOO) released its quarterly earnings results on Monday. The medical equipment provider reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.97) by $0.31, Yahoo Finance reports. The firm had revenue of $1.95 million during the quarter. T2 Biosystems updated its FY 2024 guidance to EPS.

T2 Biosystems Price Performance

NASDAQ TTOO traded up $0.04 during midday trading on Wednesday, hitting $4.93. The company had a trading volume of 34,949 shares, compared to its average volume of 271,566. The firm has a 50-day moving average price of $5.11 and a 200-day moving average price of $4.47. T2 Biosystems has a twelve month low of $2.60 and a twelve month high of $70.00.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TTOO shares. Canaccord Genuity Group boosted their target price on shares of T2 Biosystems from $3.00 to $5.00 and gave the company a “hold” rating in a research report on Tuesday. StockNews.com raised shares of T2 Biosystems to a “sell” rating in a report on Tuesday.

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.