T2 Biosystems TTOO Stock Forecast 2023: Will NASDAQ Delist TTOO Stock?
Latest T2 Biosystems Price
Article Coverage: About the Company, Latest TTOO News, Analyst Forecasts, Aggregated Forecasts, TTOO Latest Production Update, Reasons to Buy or Sell TTOO Stock, FAQs, and Other Detailed Analysis
T2 Biosystems Inc. (TTOO) stock was first listed on the Nasdaq Global Market on February 12, 2014. The stock’s ticker symbol is TTOO. T2 Biosystems is a medical diagnostics company that develops and markets rapid diagnostic tests for sepsis and other critical illnesses. The company’s flagship product is the T2Dx Instrument, which is used to detect sepsis-causing pathogens and antibiotic resistance genes.
TTOO Stock Forecast: Latest News
- T2 Biosystems Owner Sold Over 10 Million Shares
- CR Group, a 10% owner of T2 Biosystems sold more than 10 million shares of TTOO stock on Sept. 19.
- The Group sold the shares on Sept. 19 at an average price of about 36 cents per share.
- T2 Biosystems is facing a cash crunch.
- In its August 10-Q filing with the US SEC, T2 Biosystems expressed doubts about its ability to sustain operations.
- By the end of June 2023, the company had reported $16 million in cash, which it deems insufficient to support its operations through the fourth quarter of 2023.
- One of the main reasons for the company’s cash crunch is the sharp decline in revenue. During the second quarter of 2023, the company reported revenue of only $2 million, reflecting a significant 67% decrease compared to the same period in 2022.
- The other reason is the expenditure. T2 Biosystems is making substantial investments in the research and launch of new products, with a particular focus on a diagnostic test for sepsis, a severe and potentially life-threatening infection. Nevertheless, the process of developing and bringing these new products to market incurs significant expenses, leading to a rapid depletion of cash. In the initial six months of 2023, the company incurred a loss of $26.2 million.
- T2 Biosystems to Go For Reverse Stock Split
- T2 Biosystems has revealed in an SEC filing that its shareholders have granted approval for yet another reverse stock split. T2 is contemplating this reverse split as a means to reestablish compliance with Nasdaq’s minimum bid price rule.
- It’s worth noting that the company previously executed a 50-for-1 reverse split in October 2022.
- T2 has received FDA clearance for its T2Biothreat panel
- The US FDA has cleared a multi-target biothreat product developed and manufactured by T2 Biosystems.
- T2Biothreat panel is the first and only FDA-cleared product able to simultaneously detect six high-priority biothreat pathogens.
- The T2Biothreat panel detects the following pathogens: Bacillus anthracis (anthrax), Francisella tularensis (tularemia), Yersinia pestis (plague), Burkholderia pseudomallei (melioidosis), Brucella species (brucellosis) and Rickettsia prowazekii (epidemic typhus).
- NASDAQ Grants T2 Biosystems Extension
- The Nasdaq Hearings Panel has granted T2 Biosystems an extension to meet Nasdaq’s minimum bid price and market value of listed securities (“MVLS”) requirements. This extension provides the company with the opportunity to work towards achieving a stock price above $1 and maintaining it for at least 10 consecutive trading days.
- The deadline for meeting this requirement has been extended until November 20, 2023. However, if T2 Biosystems does not manage to trade above $1 within this timeframe, the stock faces potential delisting from the NASDAQ exchange.
- T2 Biosystems announced plans to participate in the upcoming Gilmartin Group Emerging Growth Company Showcase, taking place virtually on September 21, 2023. The Gilmartin Group Emerging Growth Company Showcase is an annual event that brings together investors, analysts, and corporate executives to discuss the latest trends in the emerging growth market.
TTOO Stock Price Targets: Analysts
|Average TOO Price Target||$1.28|
|Alliance Global Partners||$0.07|
TTOO Stock Price Forecast Today
|1. Market's Wisdom||Bearish|
|1a. Market Data||Partially Bearish|
|1b. Technical Recommendation||Sell|
|2. Crowd's Wisdom||Partially Bullish|
|2a. Social Media Buzz||Lower|
|2b. Social Media Sentiment||N/A|
T2 Biosystems Stock Technical Analysis
TTOO stock closed lower for the 4th consecutive day and the price crashed below $0.30. Technically, the outlook surrounding the asset is now negative.
The TTOO stock price recently experienced a surge, nearing $0.50. However, it was swiftly met with resistance just below that level, providing an opportunity for sellers to initiate short positions. Currently, TTOO is trading below $0.30, and the prevailing momentum in the market is strongly bearish.
On the 4-hour timeframe chart, the net price of T2 Biosystems stock has dipped below its 50-day moving average (MA). The 50-day MA for T2 Biosystems stock currently stands at $0.353, while the stock is slightly above the 200-day MA. In the case of T2 Biosystems stock, the 200-day MA, which sits at $0.222, serves as the initial support level. Should it fail to hold above this level, it is likely that the T2 stock price will drop below $0.20.
The overall momentum for this asset is currently bearish, and this sentiment is supported by the Relative Strength Index (RSI). At the time of writing, the RSI stands at 45.8. It is on a downward trend, indicating that sellers have outnumbered buyers. This suggests a weakening buying interest and potentially more selling pressure in the market.
Furthermore, the Williams Percent Range (WPR) for this asset aligns with the bearish sentiment, as it currently resides in the negative zone. The WPR reading is at -76.53 and is following a downward trend. This indicates that selling pressure remains dominant for the asset, further emphasizing the prevailing bearish outlook.
On the MACD chart, the MACD line is now below the signal line. Both the MACD line and the signal line are within the negative axis. It is a negative signal.
Overall, the technical analysis for TTOO stock suggests that the overall outlook of the asset is negative.
TTOO Stock Forecast: Is TTOO a good stock to buy?
Sepsis is a life-threatening condition that occurs when the body’s response to an infection damages its own tissues and organs. T2 Biosystems’ tests are designed to help clinicians diagnose sepsis more quickly and accurately, which could lead to better outcomes for patients.
In addition to its existing tests for sepsis and Candida auris, T2 Biosystems is developing tests for other serious infections, such as Clostridium difficile and Enterobacteriaceae. These tests have the potential to be blockbuster products, and they could drive significant growth for the company.
The global market for rapid diagnostics is expected to grow significantly in the coming years, as healthcare providers look for ways to improve patient outcomes and reduce costs. T2 Biosystems is well-positioned to capitalize on this growth, as its tests are designed to be fast, accurate, and easy to use.
Considering these factors, TTOO was a good investment option, but overall, it was a risky investment.
Second Quarter 2023 Highlights
- In the second quarter, the company achieved total revenue of $2.0 million, showing a decrease of 67% compared to the same period last year. This decline was primarily due to a reduction of $3.4 million in BARDA research contribution revenues.
- During the second quarter, the company successfully secured contracts for 11 T2Dx Instruments, with 4 being in the U.S. and 7 internationally.
- As of June 30, 2023, the company had $16.1 million in cash and cash equivalents. Additionally, during the third quarter, they raised an additional $10.9 million in net proceeds through ATM sales.
- The sepsis test panel revenue saw positive growth, reaching $1.3 million, which represents a 7% increase compared to the previous year’s second quarter. However, the quarter ended with a backorder of $350 thousand for the sepsis test.
- Converted $10.0 million, equivalent to approximately 20% of term loan debt with CRG Servicing LLC, in exchange for shares of T2 Biosystems equity.
T2 Biosystems TTOO Stock Performance
- Last 1 Month: -37.7%
- Last 6 Months: -45.6%
- Last 12 Months: -95.1%
TTOO Prediction 2023: Reasons Not to Buy TTOO Stock
T2 Biosystems was founded in 2006, and it has yet to turn a profit. This is a risk factor for investors, as it means that the company is not yet generating enough revenue to cover its costs.
The market for rapid diagnostics is competitive, and T2 Biosystems faces competition from companies such as BioFire Diagnostics and Quidel. These companies have established brands and market share, which could make it difficult for T2 Biosystems to compete.
TTOO stock has been volatile in recent years, and it has traded below its IPO price for most of its history. This volatility could make it a risky investment for some investors.
TTOO Stock Price Prediction: How High Will TTOO Go in 2023?
If T2 Biosystems is able to improve its financial performance in 2023, it could boost investor confidence and lead to an increase in the stock price.
If T2 Biosystems is able to maintain its competitive edge in the market for rapid diagnostics, it could also lead to an increase in the stock price.
Some analysts believe that TTOO stock could reach \$0.35 per share in 2023. However, other analysts believe that the stock could reach as high as \$0.50 per share or even higher. It is important to note that these are just predictions, and the actual price of TTOO stock in 2023 could be higher or lower. Investors should carefully consider the risks and rewards before investing in TTOO stock.
Overall, the future of TTOO stock is uncertain. However, if the company is able to achieve its goals in 2023, it could lead to an increase in the stock price.
Will TTOO Break above $1 in 2023?
Whether or not TTOO stock will break above $1 in 2023 is a difficult question to answer. There are a number of factors that could impact the price of the stock, and it is impossible to predict with certainty what will happen.
Overall, the future of TTOO stock is uncertain. However, if the company is able to achieve its goals and overcome the risks, it could break above $1 in 2023.
TTOO Stock Forecast: Frequently Asked Questions (FAQ)
Should I buy TTOO Stock Now?
Whether or not you should buy TTOO stock now is a decision that only you can make. There are a number of factors to consider, including your investment goals, risk tolerance, and overall market conditions.
Here are some of the factors you should consider before making a decision:
- The company’s financial performance
- The competitive landscape
- The overall market conditions
How much will TTOO Stock Be Worth in 10 Years?
Some analysts believe that TTOO stock could reach $10 per share in 10 years. However, other analysts believe that the stock could reach as high as $20 per share or even higher. It is important to note that these are just predictions, and the actual price of TTOO stock in 10 years could be higher or lower. Investors should carefully consider the risks and rewards before investing in TTOO stock.
Will TTOO Stock go up?
Whether or not TTOO stock will go up is a difficult question to answer. There are a number of factors that could impact the price of the stock, and it is impossible to predict with certainty what will happen.
What is the best time to invest in TTOO stock?
There is no one-size-fits-all answer to this question, as the best time to invest in TTOO stock will vary depending on your individual investment goals and risk tolerance.
Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.