Stocks of T2 Biosystems Inc. (NASDAQ:TTOO) traded higher last session on Wall Street, up 15.42% to $0.39.
According to the data, T2 Biosystems Inc. (NASDAQ:TTOO) has 3 analysts covering its stock. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $0.18 and a low of $0.12, we find $0.15. Given the previous closing price of $0.34, this indicates a potential downside of -55.88 percent. TTOO stock price is now 205.47% away from the 50-day moving average and -52.11% away from the 200-day moving average. The market capitalization of the company currently stands at $109.50M.
A total of 3 analysts have issued a hold rating and 0 have given it a buy rating. Brokers who have rated the stock have averaged $0.15 as their price target over the next twelve months.
With the price target reduced from $2.60 to $2.40, Alliance Global Partners Downgraded its rating from Buy to Neutral for T2 Biosystems Inc. (NASDAQ: TTOO).
In other news, Gibbs Michael Terrence, General Counsel sold 239 shares of the company’s stock on Mar 28. The stock was sold for $115 at an average price of $0.48. Upon completion of the transaction, the General Counsel now directly owns 6,612 shares in the company, valued at $2578.68. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 28, Chairman and CEO Sperzel John J III sold 2,898 shares of the business’s stock. A total of $1,710 was realized by selling the stock at an average price of $0.59. This leaves the insider owning 17,329 shares of the company worth $6758.31. Insiders disposed of 18,264 shares of company stock worth roughly $7122.96 over the past 1 year. A total of 0.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TTOO stock. A new stake in T2 Biosystems Inc. shares was purchased by ACADIAN ASSET MANAGEMENT LLC during the first quarter worth $372,000. CUBIST SYSTEMATIC STRATEGIES, LLC invested $66,000 in shares of TTOO during the first quarter. In the first quarter, JANE STREET GROUP, LLC acquired a new stake in T2 Biosystems Inc. valued at approximately $31,000. BAADER BANK AKTIENGESELLSCHAFT acquired a new stake in TTOO for approximately $30,000. SIMPLEX TRADING, LLC purchased a new stake in TTOO valued at around $2,000 in the second quarter.
Monday’s opening bell rang with an opening price of $0.3500 for T2 Biosystems Inc. (NASDAQ: TTOO). During the past 12 months, T2 Biosystems Inc. has had a low of $0.05 and a high of $11.00. The fifty day moving average price for TTOO is $0.1334 and a two-hundred day moving average price translates $0.8075 for the stock.
The latest earnings results from T2 Biosystems Inc. (NASDAQ: TTOO) was released for Jun, 2023. According to the Diagnostics & Research Company, earnings per share came in at -$0.08, beating analysts’ expectations of -$0.27 by 0.19. This compares to -$5.10 EPS in the same period last year. The company reported revenue of $1.96 million for the quarter, compared to $5.91 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -66.77 percent. For the current quarter, analysts expect TTOO to generate $2.7M in revenue.
T2 Biosystems Inc.(TTOO) Company Profile
T2 Biosystems, Inc., an in vitro diagnostics company, develops 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. The company also offers T2Dx Instrument, a bench-top instrument that runs various diagnostic tests from patient samples; T2Candida panel, a direct-from-blood test that identifies blood stream infections that causes sepsis and candidemia; T2Bacteria panel, a direct-from-blood test, which detects bacterial pathogens associated with sepsis; T2Resistance panel, a direct-from-blood test that identifies carbapenem resistance genes; and T2SARS-CoV-2 panel to detect SARS-CoV-2 virus. In addition, it is developing T2Biothreat panel for detection of biothreat pathogens; comprehensive sepsis panel to detect bloodstream infections caused by bacterial and Candida species, and antibiotic resistant markers; T2Cauris panel to provide direct detection of the emerging superbug Candida auris in patient skin, patient blood, and hospital environmental samples; and T2Lyme panel, a direct-from-blood test panel designed to run on the T2Dx Instrument to identify the bacteria that cause Lyme disease. The company was incorporated in 2006 and is headquartered in Lexington, Massachusetts.
