T2 Biosystems Inc (NASDAQ:TTOO) is one of the leading players in the industry related to the detection of pathogens that cause sepsis but over the course of the past month the company’s stock has performed poorly.
During that period, the T2 Biosystems stock has actually tanked by as much as 12% and it might be a good time for investors to figure out if it might actually be a buying opportunity or not. There has been no major news about the company in recent days but earlier on in the week the company announced that as many as eleven new recruits were granted inducement awards.
The awards in question had been made by the company back on July 8,2021 and had been made under the provisions of T2 Biosystems’ Inducement Award Plan. This plan had actually been adopted by the company back on March 1, 2018 and on July 8 this year it had been restated and amended.
It has emerged that the inducement awards make up options for as many as 321000 shares in the company’s common stock and has a term of as many as ten years. It should be noted that such practices are common in most companies these days.
Market Reaction:
On Thursday, TTOO stock fell 0.92% at $1.08 with more than 2 million shares, compared to its average volume of 4.27 million shares. The stock had moved within a range of $1.0500 – 1.1000 after opening the trade at $1.07. Over the past 52-week, the stock has been trading within a range of $1.0000 – 3.7900.
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