In the last trading session, 7,630,331 shares of the T2 Biosystems, Inc.(NASDAQ:TTOO) were traded, and its beta was 0.63. Most recently the company’s share price was $2.83, and it changed around -$0.1 or -0.03% from the last close, which brings the market valuation of the company to $418.72 Million. TTOO currently trades at a discount to its 52-week high of $3.79, offering almost -33.92% off that amount. The share price’s 52-week low was $0.235, which indicates that the current value has risen by an impressive 91.7% since then. We note from T2 Biosystems, Inc.’s average daily trading volume that its 10-day average is 8.1 Million shares, with the 3-month average coming to 11.93 Million.
T2 Biosystems, Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1.6. If we narrow it down even further, the data shows that none out of 5 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 1 recommended TTOO as a Hold, whereas 4 deemed it a Buy, and no one rated it as Underweight. T2 Biosystems, Inc. is expected to report earnings per share of -$0.07 for the current quarter.
T2 Biosystems, Inc. (NASDAQ:TTOO): Trading Information
Although TTOO has showed a red trend with a performance of -3.41% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $3.45- on Tuesday, Feb 16 increased the stock’s daily price by 17.97%. The company’s shares are currently up 1.28% year-to-date, but still down -0.1101 over the last five days. On the other hand, T2 Biosystems, Inc. (NASDAQ:TTOO) is 0.5% up in the 30-day period. We can see from the shorts that 9.12 Million shares have been sold at a short interest cover period of 0.76 day(s).
The consensus price target as assigned by Wall Street analysts is $3.18, which translates to bears needing to increase their stock price by 12.37% from its current value. Analyst projections state that TTOO is forecast to be at a low of $2.4 and a high of $3.5. In order for the stock price to hit the forecast high, the stock would need to surge +23.67% from its current level, while the stock would need to crash -15.19% from its current level to reach the projected low.
T2 Biosystems, Inc. (TTOO) projections and forecasts
T2 Biosystems, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +79.11 percent over the past six months and at a 70.77% annual growth rate that is well above the industry average of 20.3%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +75.9% in revenue this quarter, and will report an increase of 68.2% in the next quarter. The year-over-year growth rate is expected to be 118.8%, up from the previous year.
Consensus estimates provided by 5 financial analysts predict the company will bring in an average of $7.96 Million in revenue for the current quarter. 5 analysts expect T2 Biosystems, Inc. to make $7.92 Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $3.07 Million and $2.63 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 159.4%. Forecasts for the next quarter put sales growth at 201.1%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 20.7%. T2 Biosystems, Inc. earnings are expected to decrease by -2.8% in 2021, but the outlook is negative 0% per year for the next five years.
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T2 Biosystems, Inc. (NASDAQ:TTOO)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 4.81% of T2 Biosystems, Inc. shares, and 12.71% of them are in the hands of institutional investors. The stock currently has a share float of 13.36%. T2 Biosystems, Inc. stock is held by 66 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Sep 29, 2020, it held 3.63% of the shares, which is about 5.36 Million shares worth $7.3 Million.
Goldman Sachs Group, Inc., with 2.95% or 4.36 Million shares worth $5.93 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.