Short Interest in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Declines By 8.8%

Accelerate Diagnostics, Inc. (NASDAQ:AXDXGet Rating) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 5,150,000 shares, a decline of 8.8% from the August 15th total of 5,650,000 shares. Based on an average daily trading volume, of 1,250,000 shares, the short-interest ratio is currently 4.1 days.

Accelerate Diagnostics Price Performance

Shares of AXDX stock opened at $1.76 on Wednesday. The company has a market capitalization of $143.55 million, a PE ratio of -1.89 and a beta of 1.40. The firm’s 50-day moving average is $1.74 and its two-hundred day moving average is $1.32. Accelerate Diagnostics has a 12 month low of $0.50 and a 12 month high of $7.19.

Accelerate Diagnostics (NASDAQ:AXDXGet Rating) last announced its quarterly earnings results on Monday, August 15th. The medical research company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. During the same quarter last year, the company posted ($0.36) EPS. Sell-side analysts forecast that Accelerate Diagnostics will post -0.86 EPS for the current year.

Insider Buying and Selling at Accelerate Diagnostics

In other news, CTO Larry Michael Mertz purchased 51,749 shares of the stock in a transaction dated Monday, August 22nd. The shares were purchased at an average cost of $1.35 per share, with a total value of $69,861.15. Following the completion of the purchase, the chief technology officer now directly owns 383,411 shares of the company’s stock, valued at approximately $517,604.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought 106,749 shares of company stock valued at $156,811 over the last quarter. 42.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Accelerate Diagnostics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXDX. Bank of Montreal Can acquired a new stake in shares of Accelerate Diagnostics during the first quarter valued at about $27,000. HighTower Advisors LLC boosted its position in shares of Accelerate Diagnostics by 115.6% during the first quarter. HighTower Advisors LLC now owns 37,302 shares of the medical research company’s stock worth $53,000 after buying an additional 20,000 shares during the period. UBS Group AG boosted its position in shares of Accelerate Diagnostics by 1,004.2% during the second quarter. UBS Group AG now owns 43,593 shares of the medical research company’s stock worth $44,000 after buying an additional 39,645 shares during the period. GSA Capital Partners LLP grew its stake in shares of Accelerate Diagnostics by 89.3% in the fourth quarter. GSA Capital Partners LLP now owns 52,841 shares of the medical research company’s stock valued at $276,000 after buying an additional 24,934 shares in the last quarter. Finally, Chartist Inc. CA purchased a new stake in shares of Accelerate Diagnostics in the 2nd quarter valued at $65,000. Hedge funds and other institutional investors own 23.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AXDX. StockNews.com lowered shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Saturday, June 4th. William Blair reaffirmed an “outperform” rating on shares of Accelerate Diagnostics in a report on Friday, September 2nd.

About Accelerate Diagnostics

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Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States, Europe, and the Middle East. The company offers Accelerate Pheno system, an in vitro diagnostic platform for the identification and antibiotic susceptibility testing of pathogens associated with serious or health care-associated infections, including gram-positive and gram-negative organisms.

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