Short Interest in Accelerate Diagnostics Inc (AXDX) Declines By 8.6%

Accelerate Diagnostics Inc (NASDAQ:AXDX) was the recipient of a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 10,965,841 shares, a decline of 8.6% from the November 15th total of 11,995,079 shares. Currently, 34.4% of the company’s stock are short sold. Based on an average daily trading volume, of 818,172 shares, the short-interest ratio is currently 13.4 days.

In other news, Director Jack W. Schuler bought 276,200 shares of the stock in a transaction on Thursday, October 12th. The shares were purchased at an average price of $19.74 per share, for a total transaction of $5,452,188.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jack W. Schuler bought 5,500 shares of the stock in a transaction on Friday, November 17th. The stock was purchased at an average price of $22.00 per share, for a total transaction of $121,000.00. The disclosure for this purchase can be found here. Insiders have purchased 981,667 shares of company stock worth $18,879,924 over the last three months. 50.00% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. AXA grew its stake in Accelerate Diagnostics by 40.2% in the third quarter. AXA now owns 432,647 shares of the medical research company’s stock valued at $9,713,000 after purchasing an additional 124,035 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Accelerate Diagnostics in the third quarter valued at about $1,239,000. Jane Street Group LLC bought a new stake in shares of Accelerate Diagnostics during the 3rd quarter worth about $2,053,000. Schwab Charles Investment Management Inc. boosted its stake in shares of Accelerate Diagnostics by 5.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 123,537 shares of the medical research company’s stock worth $2,774,000 after acquiring an additional 6,301 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Accelerate Diagnostics during the 3rd quarter worth about $1,459,000. Hedge funds and other institutional investors own 47.98% of the company’s stock.

A number of research analysts have commented on the company. Zacks Investment Research downgraded Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 3rd. BTIG Research downgraded Accelerate Diagnostics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 13th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.00.

Shares of Accelerate Diagnostics (NASDAQ AXDX) traded up $0.55 during midday trading on Monday, reaching $27.25. The company’s stock had a trading volume of 410,000 shares, compared to its average volume of 364,667. Accelerate Diagnostics has a 1 year low of $16.75 and a 1 year high of $30.45.

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About Accelerate Diagnostics

Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that develop patient outcomes through the diagnosis of serious infections. The Company’s in vitro diagnostic platform, the Accelerate Pheno system utilizes genotypic technology to identify (ID), infectious pathogens and phenotypic technology to conduct antibiotic susceptibility testing (AST), which determines whether live bacterial or fungal cells are resistant or susceptible to a particular antibiotic.

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