Accelerate Diagnostics (NASDAQ:AXDX) Stock Crosses Above Fifty Day Moving Average of $0.70

Shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX – Get Rating) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $0.70 and traded as high as $0.75. Accelerate Diagnostics shares last traded at $0.72, with a volume of 85,379 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Accelerate Diagnostics in a research note on Thursday, May 18th. They set a “sell” rating for the company.

Accelerate Diagnostics Stock Up 1.3 %

The company’s 50 day moving average price is $0.70 and its 200-day moving average price is $0.72. The stock has a market cap of $71.88 million, a P/E ratio of -1.00 and a beta of 1.18.

Accelerate Diagnostics (NASDAQ:AXDX – Get Rating) last posted its quarterly earnings data on Wednesday, March 29th. The medical research company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.02. The firm had revenue of $2.97 million for the quarter, compared to analyst estimates of $3.00 million. Equities research analysts anticipate that Accelerate Diagnostics, Inc. will post -0.59 earnings per share for the current year.

Insider Transactions at Accelerate Diagnostics

In other news, CEO Jack Phillips sold 155,635 shares of the stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $0.47, for a total transaction of $73,148.45. Following the completion of the sale, the chief executive officer now directly owns 463,823 shares in the company, valued at $217,996.81. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Jack Phillips sold 155,635 shares of the stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $0.47, for a total transaction of $73,148.45. Following the completion of the sale, the chief executive officer now directly owns 463,823 shares in the company, valued at $217,996.81. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Steven Reichling sold 62,778 shares of the stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $0.47, for a total transaction of $29,505.66. Following the sale, the chief financial officer now owns 137,640 shares of the company’s stock, valued at $64,690.80. The disclosure for this sale can be found here. Insiders sold a total of 285,206 shares of company stock worth $139,390 over the last three months. 42.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Accelerate Diagnostics

A number of large investors have recently bought and sold shares of the stock. Griffin Asset Management Inc. grew its holdings in Accelerate Diagnostics by 19.6% in the first quarter. Griffin Asset Management Inc. now owns 10,249,206 shares of the medical research company’s stock worth $7,174,000 after purchasing an additional 1,679,464 shares during the period. Vanguard Group Inc. grew its holdings in Accelerate Diagnostics by 22.6% in the third quarter. Vanguard Group Inc. now owns 2,825,643 shares of the medical research company’s stock worth $4,295,000 after purchasing an additional 520,656 shares during the period. Baird Financial Group Inc. grew its holdings in Accelerate Diagnostics by 15.5% in the first quarter. Baird Financial Group Inc. now owns 1,741,547 shares of the medical research company’s stock worth $2,508,000 after purchasing an additional 233,478 shares during the period. State Street Corp grew its holdings in Accelerate Diagnostics by 12.9% in the first quarter. State Street Corp now owns 1,234,706 shares of the medical research company’s stock worth $1,778,000 after purchasing an additional 140,883 shares during the period. Finally, BlackRock Inc. grew its holdings in Accelerate Diagnostics by 10.4% in the third quarter. BlackRock Inc. now owns 625,567 shares of the medical research company’s stock worth $951,000 after purchasing an additional 59,085 shares during the period. 33.14% of the stock is currently owned by institutional investors and hedge funds.

About Accelerate Diagnostics

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Accelerate Diagnostics, Inc is an in vitro diagnostics company, which engages in the provision of solutions that improve patient outcomes and lower healthcare costs through the rapid diagnosis of serious infections. It also focuses on developing and commercializing innovative instrumentation for the rapid identification and antibiotic susceptibility testing of infectious pathogens.