Accelerate Diagnostics (NASDAQ:AXDX) Share Price Passes Below 200-Day Moving Average – Time to Sell?

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.54 and traded as low as $1.20. Accelerate Diagnostics shares last traded at $1.39, with a volume of 137,612 shares.

Analysts Set New Price Targets

A number of research analysts have weighed in on AXDX shares. BTIG Research raised shares of Accelerate Diagnostics to a “strong-buy” rating in a report on Wednesday, December 11th. StockNews.com assumed coverage on Accelerate Diagnostics in a research report on Tuesday. They set a “hold” rating on the stock.

Accelerate Diagnostics Stock Performance

The stock has a market cap of $34.81 million, a price-to-earnings ratio of -0.49 and a beta of 0.59. The business’s 50 day moving average is $1.32 and its 200-day moving average is $1.54.

Insider Buying and Selling at Accelerate Diagnostics

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Accelerate Diagnostics stock. Y Intercept Hong Kong Ltd bought a new position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 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. Institutional investors own 17.14% of the company’s stock.

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.