Market cap of T2 Biosystems Inc. [TTOO] reaches 34.26M – now what?

T2 Biosystems Inc. [NASDAQ: TTOO] plunged by -$0.01 during the normal trading session on Friday and reaching a high of $0.2109 during the day while it closed the day at $0.19. The company report on August 9, 2022 that T2 Biosystems to Explore Potential to Develop Rapid Molecular Diagnostic Test for Monkeypox Virus.

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T2 Biosystems, Inc. (NASDAQ:TTOO) a leader in the rapid detection of sepsis-causing pathogens and antibiotic resistance genes, announced today plans to explore the potential to develop a rapid molecular diagnostic test for detection of the monkeypox virus, including technical and commercial feasibility. Monkeypox is a rare disease caused by infection with the monkeypox virus that is part of the orthopoxvirus family of viruses, which also contains smallpox. The main symptom of monkeypox is a rash, but individuals may also present with flu like symptoms. A rapid and accurate diagnosis of monkeypox is essential to expedite treatment and to limit exposure and spread of the disease.

On July 23, 2022, the World Health Organization declared the global monkeypox outbreak a Public Health Emergency of International Concern, which is the highest level of global health alert under International Health Regulations. On August 4, 2022, the United States declared monkeypox a public health emergency, a move that is expected to free up additional funding and tools to fight the disease.

T2 Biosystems Inc. stock has also gained 45.84% of its value over the past 7 days. However, TTOO stock has declined by -17.96% in the 3 months of the year. Over the past six months meanwhile, it has lost -53.96% and lost -62.65% year-on date.

The market cap for TTOO stock reached $34.26 million, with 169.85 million shares outstanding and 163.18 million shares in the current float. Compared to the average trading volume of 27.43M shares, TTOO reached a trading volume of 137133055 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 $0.32 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 2.30. 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 0.03, with the Price to Sales ratio for TTOO stock in the period of the last 12 months amounting to 1.21.

TTOO stock trade performance evaluation

T2 Biosystems Inc. [TTOO] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 45.84. With this latest performance, TTOO shares gained by 37.32% in over the last four-week period, additionally sinking by -53.96% over the last 6 months – not to mention a drop of -81.28% 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 66.52, with the RSI for the last a single of trading hit 74.65, and the three-weeks RSI is set at 58.79 for T2 Biosystems Inc. [TTOO]. The present Moving Average for the last 50 days of trading for this stock 0.1568, while it was recorded at 0.1602 for the last single week of trading, and 0.3904 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 $4 million, or 9.30% of TTOO stock, in the hands of institutional investors. The top three institutional holders of TTOO stocks are: VANGUARD GROUP INC with ownership of 9,088,832, which is approximately 80.835% of the company’s market cap and around 1.00% of the total institutional ownership; BLACKROCK INC., holding 2,566,595 shares of the stock with an approximate value of $0.49 million in TTOO stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.3 million in TTOO stock with ownership of nearly -2.697% of the company’s market capitalization.

13 institutional holders increased their position in T2 Biosystems Inc. [NASDAQ:TTOO] by around 4,763,455 shares. Additionally, 32 investors decreased positions by around 3,397,135 shares, while 33 investors held positions by with 10,803,030 shares. The mentioned changes placed institutional holdings at 18,963,620 shares, according to the latest SEC report filing. TTOO stock had 2 new institutional investments in for a total of 837 shares, while 13 institutional investors sold positions of 479,038 shares during the same period.


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