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

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

T2 Biosystems Price Performance

T2 Biosystems stock traded up $0.10 during trading hours on Wednesday, reaching $4.99. The company had a trading volume of 58,219 shares, compared to its average volume of 271,725. T2 Biosystems has a 12-month low of $2.60 and a 12-month high of $70.00. The company has a 50-day moving average price of $5.11 and a 200 day moving average price of $4.47.

Wall Street Analyst Weigh In

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