Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Short Interest Down 12.6% in September

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) saw a significant decline in short interest during the month of September. As of September 15th, there was short interest totalling 468,400 shares, a decline of 12.6% from the August 31st total of 535,700 shares. Approximately 3.4% of the company’s stock are sold short. Based on an average trading volume of 52,500 shares, the days-to-cover ratio is currently 8.9 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on shares of Accelerate Diagnostics in a research report on Friday. They issued a “hold” rating on the stock.

Accelerate Diagnostics Stock Performance

AXDX stock traded down $0.06 during midday trading on Monday, reaching $1.70. 43,960 shares of the company were exchanged, compared to its average volume of 85,433. The company has a market cap of $37.57 million, a price-to-earnings ratio of -0.43 and a beta of 0.62. Accelerate Diagnostics has a 1-year low of $0.73 and a 1-year high of $7.00. The stock’s 50-day simple moving average is $1.58 and its 200 day simple moving average is $1.24.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.55) by $0.05. The company had revenue of $2.99 million during the quarter, compared to analysts’ expectations of $3.00 million. On average, research analysts anticipate that Accelerate Diagnostics will post -2.14 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. boosted its holdings in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% during the 1st quarter, according to its most recent 13F filing with the SEC. 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 approximately 6.25% of Accelerate Diagnostics worth $1,341,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 17.14% of the company’s stock.

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.