TTOO Stock Forecast: T2 Biosystems Analysis And Price Overview
TTOO Stock price is in the prolonged bearish trend trading below the major EMA levels. However, recently the price tried multiple times to surpass the 50-day EMA level demonstrating the buyer’s presence in the stock price.
TTOO Stock Price History
The daily share price chart and data for T2 Biosystems from 2014 to now are adjusted for splits and dividends. The most recent closing stock price for T2 Biosystems as of March 08, 2024 is 4.91.
Source: Simplywall.st
The highest closing price for TTOO stock was $117000.00 on January 14, 2015. Currently, the stock price is 31.6% above its 52-week low of $3.36 and 1325.7% under its 52-week high of $70.00. The mean stock price of T2 Biosystems for the previous 52 weeks is $18.02.
Furthermore, according to the data of Simply Wall Street, the company has many risk factors. The company has a negative shareholders equity and has less than 1 year of cash runway. Also, Shareholders have been greatly diluted in the last year and the company is not profitable now and not expected to be profitable in the next 3 years.
The Financial performance is also not good for the company as it generated a revenue of 1.47 Million with a negative net income of -15.43 Million and the net margin was -1047.89%. The company is unprofitable and the performance of the stock is also weak.
What T2 Biosystems Do?
T2 Biosystems, Inc. is a company that has created a unique technology platform. It uses the T2 Magnetic Resonance technology, which can find pathogens, biomarkers, and other irregularities in various types of patient samples without purification.
The firm’s products are the T2Dx Instrument, the T2Candida Panel, the T2Bacteria Panel, the T2Resistance Panel, and the T2SARS-CoV-2 Panel. The company was established by Michael J. Cima, Robert S. Langer Jr., Tyler Jacks, Lee Josephson, W. David Lee, and Ralph Weissleder on April 27, 2006 and is based in Lexington, MA.
What Technical Charts Indicate About TTOO Stock Price?
Source: Tradingview
The TTOO stock price is in the long bearish trend trading below the import EMA levels. However, recently, the price has tried to bounce back as it is trying to break important EMA levels.
Meanwhile, the RSI curve is hovering in the neutral zone showing the neutrality in the trend. However, the MACD indicator is showing a negative outcome as the signal and MACD line formed a negative cross.
In conclusion, T2 Biosystems (TTOO) has shown a recent bullish surge in its stock price after a prolonged bearish trend. However, the company’s financial performance is not good, as it is unprofitable, has a negative shareholders equity, and less than one year of cash runway.
Additionally, the technical charts indicate that the stock price is still in a long bearish trend, although there have been recent attempts to bounce back. Therefore, investors should conduct thorough research and analysis before investing in T2 Biosystems.
Disclaimer
It’s important to note that the views and opinions presented in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading stocks carries inherent risks, and readers should conduct their research before making any financial decisions.
