Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Sees Large Drop in Short Interest

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) saw a significant drop in short interest in January. As of January 15th, there was short interest totalling 406,600 shares, a drop of 17.6% from the December 31st total of 493,500 shares. Based on an average daily trading volume, of 66,300 shares, the short-interest ratio is presently 6.1 days. Approximately 2.7% of the shares of the stock are short sold.

Accelerate Diagnostics Stock Performance

AXDX stock traded up $0.01 during trading on Thursday, hitting $1.32. The stock had a trading volume of 18,643 shares, compared to its average volume of 46,718. The stock has a market cap of $33.05 million, a price-to-earnings ratio of -0.46 and a beta of 0.59. The company’s 50 day moving average price is $1.30 and its two-hundred day moving average price is $1.54. Accelerate Diagnostics has a 1-year low of $0.73 and a 1-year high of $2.09.

Wall Street Analyst Weigh In

AXDX has been the subject of a number of research reports. BTIG Research upgraded shares of Accelerate Diagnostics to a “strong-buy” rating in a research report on Wednesday, December 11th. StockNews.com initiated coverage on Accelerate Diagnostics in a research report on Tuesday. They set a “hold” rating for the company.

Insider Buying and Selling at Accelerate Diagnostics

In other news, Director John Patience purchased 200,000 shares of the company’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 completion of the transaction, the director now directly owns 653,224 shares in the company, valued at $1,025,561.68. This represents a 44.13 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 43.60% of the stock is currently owned by corporate insiders.

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) during the 3rd quarter, according to its most recent filing 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 0.08% of Accelerate Diagnostics at the end of the most recent quarter. Institutional investors and hedge funds 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.