Accelerate Diagnostics, Inc. (AXDX) Shares Down 10.2%

Accelerate Diagnostics, Inc. (NASDAQ:AXDX)’s share price was down 10.2% during trading on Friday . The company traded as low as $16.75 and last traded at $18.00. Approximately 1,864,397 shares traded hands during mid-day trading, an increase of 272% from the average daily volume of 500,872 shares. The stock had previously closed at $20.05.

A number of equities analysts have recently commented on AXDX shares. BTIG Research reissued a “buy” rating and issued a $34.00 target price on shares of Accelerate Diagnostics in a research note on Wednesday, July 12th. BidaskClub downgraded shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. Finally, ValuEngine downgraded shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.00.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Thursday, August 3rd. The medical research company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.01). The firm had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $1.40 million. Accelerate Diagnostics had a negative return on equity of 66.31% and a negative net margin of 3,085.36%. equities research analysts anticipate that Accelerate Diagnostics, Inc. will post -1.2 EPS for the current year.

In other news, Director Jack W. Schuler bought 45,000 shares of Accelerate Diagnostics stock in a transaction that occurred on Wednesday, October 18th. The stock was bought at an average price of $20.14 per share, for a total transaction of $906,300.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jack W. Schuler bought 61,300 shares of Accelerate Diagnostics stock in a transaction that occurred on Friday, October 13th. The stock was purchased at an average price of $19.29 per share, with a total value of $1,182,477.00. The disclosure for this purchase can be found here. Insiders purchased a total of 655,622 shares of company stock valued at $13,251,092 in the last 90 days. 50.00% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in AXDX. Legal & General Group Plc grew its position in Accelerate Diagnostics by 0.3% during the 1st quarter. Legal & General Group Plc now owns 5,123 shares of the medical research company’s stock worth $123,000 after purchasing an additional 15 shares during the period. CLS Investments LLC acquired a new stake in Accelerate Diagnostics during the 2nd quarter worth about $137,000. SG Americas Securities LLC grew its position in Accelerate Diagnostics by 16.8% during the 1st quarter. SG Americas Securities LLC now owns 5,885 shares of the medical research company’s stock worth $142,000 after purchasing an additional 846 shares during the period. Quantbot Technologies LP acquired a new stake in Accelerate Diagnostics during the 2nd quarter worth about $228,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in Accelerate Diagnostics during the 2nd quarter worth about $243,000. 44.63% of the stock is currently owned by institutional investors.

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Accelerate Diagnostics Company Profile

Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that develop patient outcomes through the diagnosis of serious infections. The Company’s in vitro diagnostic platform, the Accelerate Pheno system utilizes genotypic technology to identify (ID), infectious pathogens and phenotypic technology to conduct antibiotic susceptibility testing (AST), which determines whether live bacterial or fungal cells are resistant or susceptible to a particular antibiotic.

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