Investors Purchase Large Volume of Put Options on Accelerate Diagnostics (AXDX)

Accelerate Diagnostics Inc (NASDAQ:AXDX) was the target of some unusual options trading on Thursday. Stock traders acquired 3,168 put options on the stock. This is an increase of 981% compared to the average volume of 293 put options.

In other news, Director Jack W. Schuler acquired 20,000 shares of Accelerate Diagnostics stock in a transaction dated Wednesday, November 15th. The shares were acquired at an average cost of $20.00 per share, with a total value of $400,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jack W. Schuler acquired 5,500 shares of Accelerate Diagnostics stock in a transaction dated Friday, November 17th. The stock was purchased at an average cost of $22.00 per share, for a total transaction of $121,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 45,500 shares of company stock worth $900,600 over the last ninety days. Corporate insiders own 50.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its position in Accelerate Diagnostics by 31.7% during the 2nd quarter. Legal & General Group Plc now owns 6,748 shares of the medical research company’s stock worth $184,000 after acquiring an additional 1,625 shares in the last quarter. Cpwm LLC acquired a new position in Accelerate Diagnostics during the 4th quarter worth approximately $202,000. UBS Asset Management Americas Inc. acquired a new position in Accelerate Diagnostics during the 2nd quarter worth approximately $243,000. Teacher Retirement System of Texas acquired a new position in Accelerate Diagnostics during the 4th quarter worth approximately $292,000. Finally, Intl Fcstone Inc. acquired a new position in Accelerate Diagnostics during the 2nd quarter worth approximately $322,000. 47.77% of the stock is currently owned by hedge funds and other institutional investors.

Accelerate Diagnostics (AXDX) opened at $23.90 on Friday. The company has a market capitalization of $1,340.00, a P/E ratio of -19.92 and a beta of 2.19. Accelerate Diagnostics has a 52-week low of $16.75 and a 52-week high of $30.45.

AXDX has been the topic of several research analyst reports. Zacks Investment Research lowered Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. BTIG Research lowered Accelerate Diagnostics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 13th. They noted that the move was a valuation call. Finally, ValuEngine raised Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $33.00.

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About Accelerate Diagnostics

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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