Accelerate Diagnostics (AXDX) Stock Price Down 2.8%

Accelerate Diagnostics Inc (NASDAQ:AXDX) traded down 2.8% during mid-day trading on Wednesday . The stock traded as low as $24.20 and last traded at $26.10. 220,160 shares changed hands during trading, a decline of 18% from the average session volume of 267,587 shares. The stock had previously closed at $25.40.

Several equities research analysts have issued reports on the company. ValuEngine raised Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research raised Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Monday, January 8th. Finally, BTIG Research downgraded Accelerate Diagnostics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 13th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $33.00.

In related news, Director Jack W. Schuler acquired 51,181 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were purchased at an average price of $18.67 per share, for a total transaction of $955,549.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack W. Schuler acquired 20,000 shares of the firm’s stock in a transaction dated Monday, November 13th. The stock was bought at an average price of $18.98 per share, for a total transaction of $379,600.00. The disclosure for this purchase can be found here. In the last quarter, insiders bought 96,681 shares of company stock worth $1,856,149. Company insiders own 50.00% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Accelerate Diagnostics by 6.7% in the second quarter. Vanguard Group Inc. now owns 1,237,174 shares of the medical research company’s stock worth $33,837,000 after buying an additional 77,753 shares during the period. Kornitzer Capital Management Inc. KS increased its holdings in shares of Accelerate Diagnostics by 37.3% in the third quarter. Kornitzer Capital Management Inc. KS now owns 530,219 shares of the medical research company’s stock worth $11,903,000 after buying an additional 144,055 shares during the period. State Street Corp increased its holdings in shares of Accelerate Diagnostics by 12.5% in the second quarter. State Street Corp now owns 475,078 shares of the medical research company’s stock worth $12,993,000 after buying an additional 52,817 shares during the period. AXA increased its holdings in shares of Accelerate Diagnostics by 40.2% in the third quarter. AXA now owns 432,647 shares of the medical research company’s stock worth $9,713,000 after buying an additional 124,035 shares during the period. Finally, FMR LLC increased its holdings in shares of Accelerate Diagnostics by 40.0% in the second quarter. FMR LLC now owns 420,072 shares of the medical research company’s stock worth $11,489,000 after buying an additional 120,072 shares during the period. Hedge funds and other institutional investors own 47.77% of the company’s stock.

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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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