Market Analysts see T2 Biosystems Inc. [TTOO] falling to $2.40. Time to buy?



T2 Biosystems Inc. [NASDAQ: TTOO] closed the trading session at $0.14 on 07/15/22. The day’s price range saw the stock hit a low of $0.1354, while the highest price level was $0.141. The company report on July 11, 2022 that T2 Biosystems Receives FDA Breakthrough Device Designation for the T2Lyme Panel.

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Molecular Diagnostic Test for Early Detection of Lyme Disease.

T2 Biosystems, Inc. (NASDAQ:TTOO) a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, announced today the U.S. Food and Drug Administration (FDA) has granted Breakthrough Device Designation for the Company’s T2Lyme™ Panel.

The stocks have a year to date performance of -72.98 percent and weekly performance of -7.74 percent. The stock has been moved at -67.78 percent over the last six months. The stock has performed -7.12 percent around the most recent 30 days and changed -72.65 percent over the most recent 3-months.

If compared to the average trading volume of 5.39M shares, TTOO reached to a volume of 12694602 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $0.57 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 1.30. 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.

Alliance Global Partners have made an estimate for T2 Biosystems Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 27, 2021. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on October 08, 2020, representing the official price target for T2 Biosystems Inc. stock.

The Average True Range (ATR) for T2 Biosystems Inc. is set at 0.02, with the Price to Sales ratio for TTOO stock in the period of the last 12 months amounting to 0.85.

TTOO stock trade performance evaluation

T2 Biosystems Inc. [TTOO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.74. With this latest performance, TTOO shares dropped by -7.12% in over the last four-week period, additionally sinking by -67.78% over the last 6 months – not to mention a drop of -86.71% 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 36.91, with the RSI for the last a single of trading hit 35.28, and the three-weeks RSI is set at 37.00 for T2 Biosystems Inc. [TTOO]. The present Moving Average for the last 50 days of trading for this stock 0.1960, while it was recorded at 0.1469 for the last single week of trading, and 0.4630 for the last 200 days.

T2 Biosystems Inc. [TTOO]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and T2 Biosystems Inc. [TTOO] shares currently have an operating margin of -153.16 and a Gross Margin at +26.21. T2 Biosystems Inc.’s Net Margin is presently recorded at -175.50.

T2 Biosystems Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.60.

T2 Biosystems Inc. [TTOO]: Insider Ownership positions

There are presently around $2 million, or 9.10% of TTOO stock, in the hands of institutional investors. The top three institutional holders of TTOO stocks are: VANGUARD GROUP INC with ownership of 5,026,032, which is approximately -24.744% of the company’s market cap and around 1.00% of the total institutional ownership; BLACKROCK INC., holding 2,913,285 shares of the stock with an approximate value of $0.41 million in TTOO stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.22 million in TTOO stock with ownership of nearly 4.266% of the company’s market capitalization.

Positions in T2 Biosystems Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 20 institutional holders increased their position in T2 Biosystems Inc. [NASDAQ:TTOO] by around 681,879 shares. Additionally, 25 investors decreased positions by around 4,574,758 shares, while 35 investors held positions by with 10,043,814 shares. The mentioned changes placed institutional holdings at 15,300,451 shares, according to the latest SEC report filing. TTOO stock had 4 new institutional investments in for a total of 102,018 shares, while 7 institutional investors sold positions of 155,436 shares during the same period.