Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Short Interest Update

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) was the recipient of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 493,500 shares, a decline of 6.0% from the November 30th total of 525,000 shares. Based on an average daily trading volume, of 65,000 shares, the short-interest ratio is currently 7.6 days. Approximately 3.2% of the shares of the stock are short sold.

Accelerate Diagnostics Stock Performance

Shares of AXDX opened at $1.20 on Thursday. The company has a 50 day moving average price of $1.58 and a 200-day moving average price of $1.54. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $4.24. The stock has a market capitalization of $30.05 million, a PE ratio of -0.42 and a beta of 0.56.

Insider Transactions at Accelerate Diagnostics

In other news, Director John Patience purchased 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $1.57 per share, for a total transaction of $314,000.00. Following the acquisition, the director now owns 653,224 shares of the company’s stock, valued at approximately $1,025,561.68. This trade represents a 44.13 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 43.60% of the company’s stock.

Institutional Investors Weigh In On Accelerate Diagnostics

An institutional investor recently bought a new position in Accelerate Diagnostics stock. Y Intercept Hong Kong Ltd acquired a new position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 19,866 shares of the medical research company’s stock, valued at approximately $34,000. Y Intercept Hong Kong Ltd owned approximately 0.08% of Accelerate Diagnostics as of its most recent SEC filing. Hedge funds and other institutional investors own 17.14% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on AXDX. BTIG Research raised shares of Accelerate Diagnostics to a “strong-buy” rating in a research report on Wednesday, December 11th. StockNews.com began coverage on shares of Accelerate Diagnostics in a research report on Friday, December 27th. They issued a “hold” rating for the company.

Accelerate Diagnostics Company Profile

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.