Short Interest in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Grows By 15.4%

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

Insider Activity

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

Institutional Investors Weigh In On Accelerate Diagnostics

A number of hedge funds and other institutional investors have recently modified their holdings of AXDX. Jane Street Group LLC purchased a new stake in shares of Accelerate Diagnostics during the fourth quarter worth about $27,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Accelerate Diagnostics during the third quarter worth about $34,000. Renaissance Technologies LLC grew its holdings in shares of Accelerate Diagnostics by 160.6% during the fourth quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock worth $128,000 after buying an additional 65,984 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings 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 buying an additional 8,777 shares in the last quarter. 17.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Accelerate Diagnostics Trading Down 0.8 %

NASDAQ:AXDX opened at $1.18 on Monday. The company has a market capitalization of $29.55 million, a P/E ratio of -0.41 and a beta of 0.61. Accelerate Diagnostics has a twelve month low of $0.73 and a twelve month high of $2.09. The firm has a 50-day moving average price of $1.21 and a two-hundred day moving average price of $1.54.

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.