T2 Biosystems, Inc. TTOO shares are trading higher Monday after the company announced it has received 510(k) clearance from the U.S. Food and Drug Administration (FDA) for the expanded T2Bacteria Panel.
Regulatory Clearance:
T2 Biosystems has obtained FDA clearance to add the capability to detect another bacterial species, Acinetobacter baumannii, to the panel.
CEO John Sperzel expressed excitement, stating, “The addition of A. baumannii represents the achievement of another successful product development and regulatory milestone for T2 Biosystems and increases the value proposition of the T2Bacteria Panel by covering approximately 75% of all sepsis-causing bacterial pathogens commonly found in bloodstream infections.”
Furthermore, T2 Biosystems is poised to release its fourth-quarter financial results after the market close on Thursday and will host a conference call to discuss the results at 4:30 p.m. ET the same day.
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Stock Performance Outlook
Analysts typically utilize earnings growth and fundamental research for valuation and forecasting, while traders often turn to technical analysis to predict share price trajectory.
Some investors rely on trends to forecast a stock’s long-term prospects using moving averages and trend lines. For T2 Biosystems, the 200-day moving average stands at $15.07, according to Benzinga Pro, above the current price of $5.57.
Traders consider a stock to be bullish when it is above its moving average and bearish when it is below. Trend lines assist investors in speculating where a stock might trade in the future if conditions remain stable.
Current Stock Movement: T2 Biosystems shares are up about 21% at $5.94 at the time of publication.
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