The stock of T2 Biosystems Inc. (NASDAQ:TTOO) decreased by -$0.03 on Monday to finish at $0.34, down -8.84 percent. The last five days have seen an average of 90,629,445 shares of common stock traded. 8 times new highs were reached in the current year, with a fall of -$1.0850. The average number of shares traded over the last 20 days was 183,057,984, while the average volume over the last 50 days totaled 118,759,102.
TTOO stock appreciated 188.79% since last month. On 07/31/23, the company’s shares reached a one-month low of $0.1208. The stock touched a high of $6.60 on 01/17/23, after rallying from a low of $0.05 in 52 weeks. The price of TTOO stock has declined by -76.41% or -$1.0850 this year, reaching a new high 8 times. Still, the stock price is down -94.92% from the 52-week high.
Insider Transactions
TTOO stock investors should be aware that T2 Biosystems Inc. (TTOO) stock had its last reported insider trading activity 154 days ago on Mar 28. On Mar 28, General Counsel Gibbs Michael Terrence sold 239 shares at $0.48 each. This transaction resulted in the insider making $115. On Feb 28, Sperzel John J III sold 2,898 shares at a price of US$0.59. After the transaction, the insider now owns 17,329 shares. General Counsel Gibbs Michael Terrence had earlier sold 1,585 shares on Feb 28 for $0.59 a share. The transaction was completed for $935.
Financial Health
For the three months ended June 29, T2 Biosystems Inc.’s quick ratio was 0.80, while its current ratio was 1.10, indicating its inability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is -10.20% percent. Based on annual data, it had gross profit of $1.2 million and revenue of $22.3 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. TTOO’s return on assets (ROA) during the last 12 months has been -165.50%. There was a -552.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 157.10%.
Earnings Surprise
According to T2 Biosystems Inc.’s quarterly financial report for the quarter that ended June 29. A lower net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $1.96 million, while revenues fell by -201.53% to $2.08 million. It was predicted that T2 Biosystems Inc.’s quarterly earnings would be -$0.08, but it ended up being -$0.27, beating the consensus by 70.40%. EBITDA was -$12.78 million for the quarter. At the end of T2 Biosystems Inc.’s most recent quarter ended June 29, its liabilities totaled 73.55 million, while its total debt was $59.48 million. Equity owned by shareholders amounts to $333.58 million.
Technical Picture
Here’s a quick look at T2 Biosystems Inc.’s (TTOO) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 44.05%, suggesting the stock is Neutral, with a 217.22% historical volatility rate.
The stochastic %K and %D were 23.49% and 35.10% respectively, while the average true range (ATR) was 0.1022. Based on the 14-day stochastic reading of 12.99%, the RSI (14) reading is 49.62%. On the 9-day MACD Oscillator, the stock is at -0.1063, and the 14-day reading is at -0.0849.
Analyst Ratings
T2 Biosystems Inc. (NASDAQ: TTOO) was downgraded by Alliance Global Partners to a a Neutral rating in its latest research report. The stock was previously rated as a a Buy. Analysts have assigned T2 Biosystems Inc. (TTOO) an Hold rating. TTOO is a stock that is recommended for selling by 0 brokerage firms, while 3 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 0 others recommend it as a buy.
What is TTOO’s price target for the next 12 months?
The current consensus forecast for the stock is between $0.12 and $0.18, with a median target price of $0.15. In analyzing these forecasts, the average price target given by analysts for T2 Biosystems Inc. (TTOO) is $0.15.
