T2 Biosystems Inc. [NASDAQ: TTOO] gained 12.83% or 0.24 points to close at $2.11 with a heavy trading volume of 16770046 shares. The company report on January 12, 2021 that T2 Biosystems T2SARS-CoV-2™ Panel Proves Effective Amid Global Rise in Variants of the SARS-CoV-2 Virus.
Panel can detect multiple variants of the SARS-CoV-2 virus, including those most recently identified in the United Kingdom, South Africa, and the U.S.
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T2 Biosystems, Inc. (NASDAQ:TTOO), a leader in the rapid detection of sepsis-causing pathogens, announced that its T2SARS-CoV-2™ Panel—a molecular diagnostic test that detects SARS-CoV-2, the virus responsible for COVID-19 infections—is capable of detecting the multiple variants of the SARS-CoV-2 virus most recently identified in the United Kingdom, South Africa, and the United States.
It opened the trading session at $1.93, the shares rose to $2.13 and dropped to $1.85, the range by which the price of stock traded the whole day. The daily chart for TTOO points out that the company has recorded 30.25% gains over the past six months. However, it is still -817.39% lower than its most recent low trading price.
If we look at the average trading volume of 5.96M shares, TTOO reached to a volume of 16770046 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about T2 Biosystems Inc. [TTOO]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TTOO shares is $3.22 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TTOO stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BTIG Research have made an estimate for T2 Biosystems Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 08, 2020. The new note on the price target was released on November 26, 2019, representing the official price target for T2 Biosystems Inc. stock.
The Average True Range (ATR) for T2 Biosystems Inc. is set at 0.15, with the Price to Sales ratio for TTOO stock in the period of the last 12 months amounting to 23.43. The Price to Book ratio for the last quarter was 17.58, with the Price to Cash per share for the same quarter was set at 0.28.
Trading performance analysis for TTOO stock
T2 Biosystems Inc. [TTOO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.57. With this latest performance, TTOO shares gained by 86.73% in over the last four-week period, additionally plugging by 30.25% over the last 6 months – not to mention a rise of 80.34% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TTOO stock in for the last two-week period is set at 79.95, with the RSI for the last a single of trading hit 83.48, and the three-weeks RSI is set at 76.31 for T2 Biosystems Inc. [TTOO]. The present Moving Average for the last 50 days of trading for this stock 1.31, while it was recorded at 1.92 for the last single week of trading, and 1.24 for the last 200 days.
T2 Biosystems Inc. [TTOO]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and T2 Biosystems Inc. [TTOO] shares currently have an operating margin of -624.57 and a Gross Margin at -101.12. T2 Biosystems Inc.’s Net Margin is presently recorded at -707.93.
Additionally, TTOO Total Debt to Total Capital is recorded at 366.64, with Total Debt to Total Assets ending up at 164.14.
Reflecting on the efficiency of the workforce at the company, T2 Biosystems Inc. [TTOO] managed to generate an average of -$390,768 per employee. Receivables Turnover for the company is 3.62 with a Total Asset Turnover recorded at a value of 0.18.T2 Biosystems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.60 and a Current Ratio set at 5.00.
T2 Biosystems Inc. [TTOO]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, T2 Biosystems Inc. posted -0.29/share EPS, while the average EPS was predicted by analysts to be reported at -0.27/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -7.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TTOO.
An analysis of insider ownership at T2 Biosystems Inc. [TTOO]
There are presently around $39 million, or 12.70% of TTOO stock, in the hands of institutional investors. The top three institutional holders of TTOO stocks are: VANGUARD GROUP INC with ownership of 5,364,440, which is approximately 12.706% of the company’s market cap and around 0.10% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 4,358,817 shares of the stock with an approximate value of $9.2 million in TTOO stocks shares; and BLACKROCK INC., currently with $4.65 million in TTOO stock with ownership of nearly 34.567% of the company’s market capitalization.
Positions in T2 Biosystems Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 34 institutional holders increased their position in T2 Biosystems Inc. [NASDAQ:TTOO] by around 4,019,931 shares. Additionally, 16 investors decreased positions by around 720,255 shares, while 18 investors held positions by with 13,516,427 shares. The mentioned changes placed institutional holdings at 18,256,613 shares, according to the latest SEC report filing. TTOO stock had 16 new institutional investments in for a total of 1,119,629 shares, while 7 institutional investors sold positions of 242,873 shares during the same period.