Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Sees Significant Increase in Short Interest

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 463,600 shares, an increase of 15.4% from the January 15th total of 401,900 shares. Approximately 3.0% of the company’s stock are sold short. Based on an average trading volume of 58,300 shares, the days-to-cover ratio is currently 8.0 days.

Insider Activity

In other Accelerate Diagnostics news, Director John Patience acquired 200,000 shares of the company’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 acquisition, the director now owns 653,224 shares in the company, valued at $1,025,561.68. The trade was a 44.13 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 43.60% of the company’s stock.

Institutional Trading of Accelerate Diagnostics

Several hedge funds have recently modified their holdings of the business. Y Intercept Hong Kong Ltd purchased a new position in Accelerate Diagnostics during the third quarter worth $34,000. Jane Street Group LLC acquired a new position in Accelerate Diagnostics in the fourth quarter valued at $27,000. Renaissance Technologies LLC boosted its holdings in Accelerate Diagnostics by 160.6% in the fourth quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock valued at $128,000 after acquiring an additional 65,984 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Accelerate Diagnostics by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock worth $163,000 after purchasing an additional 8,777 shares in the last quarter. 17.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AXDX has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on Accelerate Diagnostics in a report on Thursday. They issued a “hold” rating on the stock. BTIG Research upgraded Accelerate Diagnostics to a “strong-buy” rating in a research note on Wednesday, December 11th.

Accelerate Diagnostics Stock Performance

Accelerate Diagnostics stock traded down $0.01 during mid-day trading on Friday, reaching $1.18. 26,100 shares of the company were exchanged, compared to its average volume of 38,417. Accelerate Diagnostics has a twelve month low of $0.73 and a twelve month high of $2.09. The firm’s 50-day simple moving average is $1.21 and its two-hundred day simple moving average is $1.54. The firm has a market cap of $29.55 million, a PE ratio of -0.41 and a beta of 0.61.

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.