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T2 Biosystems Inc (NASDAQ: TTOO) Could Make Significant Gains?

In the latest trading session, 2.41 million T2 Biosystems Inc (NASDAQ:TTOO) shares changed hands as the company’s beta touched 0.11. With the company’s most recent per share price at $5.58 changing hands around $0.69 or 14.11% at last look, the market valuation stands at $22.60M. TTOO’s current price is a discount, trading about -2498.57% off its 52-week high of $145.00. The share price had its 52-week low at $3.36, which suggests the last value was 39.78% up since then. When we look at T2 Biosystems Inc’s average trading volume, we note the 10-day average is 83220.0 shares, with the 3-month average coming to 32.09.

T2 Biosystems Inc (NASDAQ:TTOO) trade information

Instantly TTOO is in green as seen in intraday trades today. With action 29.17%, the performance over the past five days has been green. The jump to weekly highs of 6.36 added 14.11% to the stock’s daily price. The company’s shares are showing year-to-date downside of -11.08%, with the 5-day performance at 29.17% in the green. However, in the 30-day time frame, T2 Biosystems Inc (NASDAQ:TTOO) is 19.23% up. Looking at the short shares, we see there were 0.32 million shares sold at short interest cover period of 1.66 days.

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T2 Biosystems Inc (TTOO) estimates and forecasts

Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for T2 Biosystems Inc will rise 98.40%, while the growth in revenue is estimated to hit 98.30% for the next quarter. Year-over-year growth is forecast to reach -64.60% down from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $2.4 million. 1 analysts are of the opinion that T2 Biosystems Inc’s revenue for the quarter ending Mar 2024 will be $1.9 million. The company’s revenue for the corresponding quarters a year ago was $5.48 million and $2.08 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -56.20%. The estimates for the next quarter sales put growth at -8.60%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 33.92%. The 2024 estimates are for T2 Biosystems Inc earnings to increase by 98.49%.

TTOO Dividends

T2 Biosystems Inc is expected to release its next quarterly earnings report on February 15.

T2 Biosystems Inc (NASDAQ:TTOO)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.54% of T2 Biosystems Inc shares while 7.13% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 7.17%. There are 7.13% institutions holding the T2 Biosystems Inc stock share, with Gsa Capital Partners Llp the top institutional holder. As of Jun 29, 2023, the company held 0.01% of the shares, roughly 40351.0 TTOO shares worth $0.28 million.

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