The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. T2 Biosystems Inc. shares valued at $4,767 were purchased by Sprague John M on Apr 08. At $0.48 per share, Sprague John M acquired 10,000 shares. The insider’s holdings grew to 152,350 shares worth approximately $19805.5 following the completion of this transaction.
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Also, Giffin Brett A. purchased 10,600 shares, netting a total of over 5,183 in proceeds. Following the buying of shares at $0.49 each, the insider now holds 10,600 shares.
Before that, Barclay Alec had added 12,952 shares to its account. In a trade valued at $6,476, the Chief Operations Officer bought T2 Biosystems Inc. shares for $0.50 each. Upon closing the transaction, the insider’s holdings increased to 12,952 shares, worth approximately $23652.850000000002.
As published in a research note from Alliance Global Partners on January 27, 2021, T2 Biosystems Inc. [TTOO] has been rated down from a Buy to a Neutral and the price target has been revised to $2.40 from $2.60. This represents a 94.58% premium over Thursday’s closing price. Analysts at BTIG Research started covering the stock with ‘”a Buy”‘ outlook in a report released in early October. As of November 26, 2019, Janney has decreased its “Buy” rating to a “Neutral” for TTOO. Earlier on August 01, 2019, Alliance Global Partners downgraded its rating. Their new recommendation was “a Neutral” for TTOO stock which previously was a “a Buy”.
Analyzing TTOO’s Price Performance
On Thursday, T2 Biosystems Inc. [NASDAQ: TTOO] rose 7.04% to $0.13. The stock’s lowest price that day was $0.121, but it reached a high of $0.136 in the same session. During the last five days, there has been a surge of approximately 5.38%. Over the course of the year, T2 Biosystems Inc. shares have dropped approximately -74.95%. Shares of the company reached a 52-week high of $0.5850 on 04/01/22 and a 52-week low of $0.1144 on 08/02/22. A 50-day SMA is recorded $0.1622, while a 200-day SMA reached $0.4113. Nevertheless, trading volume fell to 38.06 million shares from 17.08 million shares the previous day.
Support And Resistance Levels for T2 Biosystems Inc. (TTOO)
According to the 24-hour chart, there is a support level at 0.1215, which, if violated, would cause prices to drop to 0.1138. In the upper region, resistance lies at 0.1365. The next price resistance is at 0.1438. RSI (Relative Strength Index) is 39.46 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.0082, which suggests the price will decrease in the coming days. Percent R is at 59.29%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is T2 Biosystems Inc. subject to short interest?
Stocks of T2 Biosystems Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 4.74 million shares to 14.5 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 9.76 million shares. A jump of 32.69% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.13 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.13.
Which companies own the most shares of T2 Biosystems Inc. (TTOO)?
According to The Vanguard Group, Inc. filings, the company currently owns 4,960,499 shares, which is about 2.89% of the total TTOO shares outstanding. The investor’s shares have plunged by -1,605,384 from its previous 13-F filing of 6565883.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $467,625. Geode Capital Management LLC acquire a 4.27% interest valued at $0.26 million while Gagnon Securities LLC purchased a 692 stake. A total of 66,052 shares of T2 Biosystems Inc. were bought by SSgA Funds Management, Inc. during the quarter, and -440,123 were sold by Millennium Management LLC. In its current portfolio, Franklin Advisers, Inc. holds 381,000 shares valued at $61722.0.
In terms of T2 Biosystems Inc. share price expectations, FactSet research, analysts set an average price target of $0.32 in the next 12 months, up nearly 166.67% from the previous closing price of $0.12. Analysts anticipate T2 Biosystems Inc. stock to reach $0.50 by 2022, with the lowest price target being $0.14. In spite of this, 3 analysts ranked T2 Biosystems Inc. stock as an Overweight at the end of 2022.