Short Interest in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Rises By 30.0%

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) was the recipient of a large growth in short interest in June. As of June 15th, there was short interest totalling 551,700 shares, a growth of 30.0% from the May 31st total of 424,400 shares. Based on an average daily volume of 77,900 shares, the short-interest ratio is currently 7.1 days. Currently, 4.5% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. William Blair reissued an “outperform” rating on shares of Accelerate Diagnostics in a research report on Tuesday, April 2nd. StockNews.com started coverage on Accelerate Diagnostics in a report on Monday. They set a “hold” rating on the stock. Finally, Craig Hallum reduced their price objective on Accelerate Diagnostics from $2.00 to $1.00 and set a “hold” rating for the company in a research note on Monday, April 1st.

Accelerate Diagnostics Trading Up 1.7 %

Shares of AXDX opened at $1.17 on Monday. The stock has a 50-day moving average price of $1.11 and a 200-day moving average price of $1.59. The company has a market cap of $25.80 million, a PE ratio of -0.29 and a beta of 0.65. Accelerate Diagnostics has a 12-month low of $0.73 and a 12-month high of $8.72.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its earnings results on Wednesday, May 8th. The medical research company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.16). The business had revenue of $2.92 million for the quarter, compared to analyst estimates of $3.00 million. As a group, analysts predict that Accelerate Diagnostics will post -2.37 earnings per share for the current year.

Institutional Trading of Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. grew its position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,354,254 shares of the medical research company’s stock after purchasing an additional 134,530 shares during the period. Griffin Asset Management Inc. owned about 6.25% of Accelerate Diagnostics worth $1,341,000 at the end of the most recent reporting period. 17.14% of the stock is currently owned by institutional investors and hedge funds.

About Accelerate Diagnostics

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.