T2 Biosystems Inc. (NASDAQ:TTOO) saw an upside of 26.69% to close Tuesday at $0.31 after adding $0.07 on the day. The 5-day average trading volume is 279,166,625 shares of the company’s common stock. It has gained $0.4500 in the past week and touched a new high 2 times within the past 5 days. An average of 125,619,625 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 100,105,805.
TTOO’s 1-month performance is 96.20% or $0.1950 on its low of $0.0830 reached on 07/19/23. The company’s shares have touched a 52-week low of $0.05 and high of $15.00, with the stock’s rally to the 52-week high happening on 01/17/23. YTD, TTOO has lost -78.17% or -$1.1100 and has reached a new high 8 times. However, the current price is down -97.93% from the 52-week high price.
Insider Transactions
TTOO stock investors last saw insider trading activity on Mar 28.Gibbs Michael Terrence (General Counsel) most recently sold 239 shares at $0.48 per share on Mar 28. This transaction cost the insider $115. Chairman and CEO, Sperzel John J III, sold 2,898 shares at a price of $0.59 on Feb 28. Then, on Feb 28, General Counsel Gibbs Michael Terrence sold 1,585 shares at a price of $0.59 per share. This transaction amounted to $935.
Valuation Metrics
TTOO stock has a beta of 0.35. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 7.37.
T2 Biosystems Inc.’s quick ratio for the period ended June 29 was 0.80, with the current ratio over the same period at 1.10.. In terms of profitability, the gross margin trailing 12 months is -10.20%. The firm’s gross profit as reported stood at $1.2 million against revenue of $22.3 million.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went down compared to those figures reported in the previous quarter. Net income grew 32.44% to -$17.97 million, while revenue of -$17.71 million was 1.45% off the previous quarter. Analysts expected TTOO to announce -$0.27 per share in earnings in its latest quarter, but it posted -$0.08, representing a 70.40% surprise. EBITDA for the quarter stood at more than -$13.43 million. TTOO stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 82.62 million, with total debt at $59.35 million. Shareholders hold equity totaling $24.89 million.
Let’s look briefly at T2 Biosystems Inc. (TTOO) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 08 August was 70.53% to suggest the stock is trending Overbought, with historical volatility in this time period at 344.58%.
The stock’s 5-day moving average is $0.2795, reflecting a +96.83% or $0.1525 change from its current price. TTOO is currently trading +106.80% above its 20-day SMA, -41.35% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +190.26% and SMA200 by-82.29%.
Stochastic %K and %D was 50.23% and 57.08% and the average true range (ATR) pointed at 0.0653. The RSI (14) points at 68.92%, while the 14-day stochastic is at 61.11% with the period’s ATR at 0.0528. The stock’s 9-day MACD Oscillator is pointing at 0.0532 and 0.0924 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for T2 Biosystems Inc. (NASDAQ: TTOO), Alliance Global Partners downgraded it to a Neutral rating. They previously had a Buy rating on the stock.
