T2 Biosystems Inc (NASDAQ:TTOO) saw a downside of -13.62% to close Monday at $0.22 after subtracting -$0.03 on the day. The 5-day average trading volume is 84,315,383 shares of the company’s common stock. It has gained $0.4000 in the past week and touched a new high 1 time within the past 5 days. An average of 85,264,375 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 122,163,258.
TTOO’s 1-month performance is -37.65% or -$0.1481 on its low of $0.2071 reached on 09/25/23. The company’s shares have touched a 52-week low of $0.05 and high of $5.72, with the stock’s rally to the 52-week high happening on 01/17/23. YTD, TTOO has lost -84.55% or -$1.2006 and has reached a new high 8 times. However, the current price is down -96.16% from the 52-week high price.
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Insider Transactions
TTOO stock investors last saw insider trading activity on Sep 21.CR Group L.P. (10% Owner) most recently sold 6,338,211 shares at $0.30 per share on Sep 21. This transaction cost the insider $1,904,632. 10% Owner, CR Group L.P., sold 7,753,710 shares at a price of $0.31 on Sep 20. Then, on Sep 19, 10% Owner CR Group L.P. sold 10,401,466 shares at a price of $0.37 per share. This transaction amounted to $3,806,937.
Valuation Metrics
TTOO stock has a beta of 0.31. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 5.54.
T2 Biosystems Inc’s quick ratio for the period ended June 29 was 0.30, with the current ratio over the same period at 0.36. In terms of profitability, the gross margin trailing 12 months is -42.53%. The trailing 12-month EBITDA margin is -232.12% while for the period ending June 29, T2 Biosystems Inc’s operating margin was -389.12%. 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 shrunk -183.94% to -$6.35 million, while revenue of -$17.97 million was -182.99% 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 -$12.78 million. TTOO stock balance sheet for the quarter ending June 29 shows that total liabilities totaled 73.55 million, with total debt at $59.48 million. Shareholders hold equity totaling $333.58 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 25 September was 38.82% to suggest the stock is trending Neutral, with historical volatility in this time period at 334.34%.
The stock’s 5-day moving average is $0.2808, reflecting a -52.19% or -$0.2395 change from its current price. TTOO is currently trading -40.30% above its 20-day SMA, -27.35% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +97.12% and SMA200 by-85.57%.
Stochastic %K and %D was 12.13% and 21.48% and the average true range (ATR) pointed at 0.0718. The RSI (14) points at 42.62%, while the 14-day stochastic is at 4.71% with the period’s ATR at 0.0742. The stock’s 9-day MACD Oscillator is pointing at -0.0430 and -0.0443 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. Analysts offering their rating for TTOO stock have a consensus rating for the stock as Hold. Currently, 0 brokerage advisors rate TTOO as a “sell,”, while 3 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 0 rates the stock as overweight while 0 have offered a “buy” rating.
What is TTOO’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $0.12 and a high of $0.18, with their median price target at $0.15. Looking at these predictions, the average price target given by analysts is for T2 Biosystems Inc (TTOO) stock is $0.15.
