GSA Capital Partners LLP recently announced the acquisition of new stake in T2 Biosystems Inc. (NASDAQ:TTOO). The institutional investor has increased its shareholding in the Healthcare company by 335.72% to 86909.0 shares with purchase of 66963.0 shares. This fresh investment now brings its stake to 0.43% valued currently at $28680.0. In addition, Geode Capital Management LLC raised its holdings by 5872.0 to 36635.0 shares. And Morgan Stanley & Co. LLC has lifted its position by 90.70% or 7551.0 shares – to 15876.0 shares.
With over 13.54 million T2 Biosystems Inc. (TTOO) shares trading Tuesday and a closing price of $0.17 on the day, the dollar volume was approximately $2.3 million. The shares have shown a negative half year performance of -90.50% and its price on 05/23/23 lost nearly -38.51%. Currently, there are 20.28M common shares owned by the public and among those 20.09M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 3 analysts who have offered their price forecasts for TTOO have a consensus price objective of $0.43. The analysts have set the share’s price value over the next 12 months at a high of $0.65 and a low of $0.20. But an upside of 73.85% will see the stock hit the forecast high price target while median target price for the stock is $0.43.
Insiders at the company have transacted a total of 28 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 558,495 shares. Insider sales of the common stock occurred on 9 occasions, with total insider shares sold totaling 18,264 shares.
The top 3 mutual fund holders in T2 Biosystems Inc. are Vanguard Total Stock Market ETF, Fidelity Extended Market Index Fu, and Fidelity Series Total Market Inde. Vanguard Total Stock Market ETF owns 0.13 million shares of the company’s stock, all valued at over $43228.0. Fidelity Series Total Market Inde now owns shares totaling to 0.05% of the shares outstanding.
Shares of T2 Biosystems Inc. (NASDAQ: TTOO) opened at $0.265, down -$0.02 from a prior closing price of $0.28. However, the script later moved the day high at 0.2740, down -38.51%. The company’s stock has a 5-day price change of -34.50% and -71.84% over the past three months. TTOO shares are trading -87.75% year to date (YTD), with the 12-month market performance down to -98.40% lower. It has a 12-month low price of $0.26 and touched a high of $15.00 over the same period. TTOO has an average intraday trading volume of 605.55K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -40.78%, -55.45%, and -92.43% respectively.
Institutional ownership of T2 Biosystems Inc. (NASDAQ: TTOO) shares accounts for 6.80% of the company’s 20.28M shares outstanding. Mutual fund holders own 0.90%, while other institutional holders and individual stakeholders account for 1.39% and 0.17% respectively.
It has a market capitalization of $3.55M and a beta (3y monthly) value of 0.34. The earnings-per-share (ttm) stands at -$14.26. Price movements for the stock have been influenced by the stock’s volatility, which stands at 17.66% over the week and 9.60% over the month.
Analysts forecast that T2 Biosystems Inc. (TTOO) will achieve an EPS of -$0.82 for the current quarter, -$0.7 for the next quarter and -$2.09 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.34 while analysts give the company a high EPS estimate of -$0.33. Comparatively, EPS for the current quarter was -$5 a year ago. Earnings per share for the fiscal year are expected to increase by 21.10%, and 28.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 3 brokerage firm advisors rate T2 Biosystems Inc. (TTOO) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 3 of the 3 advise that investors “hold,” and 0 rated it as a “Sell.”
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