TTOO Stock Forecast 2024: How High Will TTOO Go in 2023?

T2 Biosystems TTOO Stock Forecast: The analyst price target for TTOO is around $7.

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 Performance in the Last 12 Months

T2 Biosystems News Today

• T2 Biosystems announces exclusive distribution agreements for new territories in the Netherlands, Belgium, Vietnam, and Switzerland, marking their re-entry into the Swiss market. This expansion aims to strengthen their global presence and distribution network. While some social media users congratulate the company on the news, others express concerns or criticisms.
• T2 Biosystems announces FDA clearance for its expanded T2Bacteria® Panel, now capable of detecting Acinetobacter baumannii, further enhancing its ability to aid clinicians in faster and more effective patient treatment. This development underscores T2 Biosystems’ commitment to improving healthcare outcomes and reducing costs through innovative diagnostic solutions.
• T2 Biosystems announces its selection as a Phase 2 winner in the LymeX Diagnostics Prize, aimed at developing an innovative diagnostic test for active Lyme disease, addressing the absence of an FDA-cleared test for the condition.

Ongoing Developments:

• Focus on Sepsis and Antibiotic Resistance: T2 Biosystems remains focused on addressing unmet needs in healthcare, particularly related to sepsis and antibiotic resistance. Their proprietary T2MR technology offers rapid and accurate detection of pathogens and antibiotic resistance genes, leading to quicker and more targeted treatment for patients.
• Pipeline of Future Products: T2 Biosystems has an active pipeline of future products in development, including tests for additional species and antibiotic resistance markers of sepsis pathogens, as well as tests for Lyme disease. This demonstrates their commitment to expanding their diagnostic capabilities and improving patient outcomes.

TTOO Stock Forecast: Analysts

T2 Biosystems Stock Forecast: Technical Analysis

Overall: Strongly Bearish

• Moving Averages: All the moving averages are indicating a sell in all the timeframes.
• RSI(14): RSI at the time of writing is 44.13, indicating a neutral signal.
• MOM(10): Momentum(10) with a value of -0.75 indicating a sell signal.
• MACD(12,26): MACD also indicating a sell signal with a value of 0.02.
• Williams% R(14) is at -93.89, indicating a neutral signal.

Overall the technical analysis for T2 Biosystems stock suggests a Bearish signal.

Is T2 Biosystems Going Out of Business?

It is difficult to say whether T2 Biosystems is going out of business. The company has faced a series of difficulties in recent years, including declining revenue, a reverse stock split, and a Nasdaq delisting notice. However, T2 Biosystems has also achieved some positive milestones, such as obtaining FDA clearance for a new product and establishing new partnerships.

The company in its August 10-Q filing with the US SEC expressed doubts about its ability to sustain operations. T2 Biosystems mentioned that it is facing a cash crunch. The company has been struggling to commercialize its diagnostic platform, and it has been burning through cash at a rapid rate. T2 Biosystems mentioned that the company by the end of July 2023 the company had $16 million in cash.

Added to it, the company recently published its preliminary financials for the 3rd quarter of 2023. The financials indicated that the company’s economics is not in good shape and there is a reason to worry about the future of the company.

However, at this point, it’s premature to determine whether T2 Biosystems will endure. The company must address its challenges and boost its revenue to remain viable. Several factors could significantly influence T2 Biosystems’ future:

1. Revenue Growth: T2 Biosystems has experienced a decline in revenue in recent quarters. To attain profitability, the company needs to increase its revenue.
2. Product Development: T2 Biosystems has several new products in the pipeline. Successfully launching these products will be crucial for generating additional revenue.
3. Market Competition: T2 Biosystems faces competition from other companies offering similar products and services. To succeed, the company must set itself apart from its rivals.
4. Financial Resources: T2 Biosystems has limited financial resources, necessitating the raising of additional funds to support its operations and product development.

Should T2 Biosystems effectively address these challenges, it could potentially not only survive but also thrive. Nevertheless, if the company cannot enhance its financial performance and product development pipeline, it may face the possibility of closing its doors.

T2 Biosystems Stock Forecast 2024 and 2025

• TTOO Price Prediction 2023 is $4.92
• TTOO Price Prediction 2024 is $1.11

T2 Biosystems 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. However, one factor that needs to be considered before investing in T2 Biosystems stock is the financial position of the company. In the last quarter, T2 Biosystems witnessed a fall of over 60% in revenue. Additionally, in its recent filing with the US SEC, the company mentioned that it is facing a fund crunch. They specifically mentioned that by the end of June 2023, the company had $16 million in cash, which it deems insufficient to support its operations through the fourth quarter of 2023.

Therefore, T2 Biosystems stock is a risky investment to consider.

T2 Biosystems Stock Forecast: 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.

TTOO Stock Forecast 2024: 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 Forecast 2024: 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.

Prior to the reverse stock split, some analysts believed that TTOO stock could reach $0.35 per share in 2023. However, other analysts believed that the stock could reach as high as $0.50 per share or even higher. It is important to note that these were 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.

Now, after the reverse split, T2 is above $1 and the main concern for the buyers will be to keep the T2 Biosystems stock above $1 for 10 consecutive trading days in order to meet the NASDAQ listings requirement. Since the reverse-stock split, T2 has already crashed by over 50%.

Note:  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.