Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Accelerate Diagnostics from a buy rating to a hold rating in a research report on Wednesday, July 15th. ValuEngine raised shares of Accelerate Diagnostics from a hold rating to a buy rating in a research report on Thursday, April 2nd. Finally, Piper Sandler reduced their price objective on shares of Accelerate Diagnostics from $16.00 to $14.00 and set an overweight rating on the stock in a research report on Monday, May 11th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $15.25.
Shares of NASDAQ:AXDX opened at $14.53 on Wednesday. Accelerate Diagnostics has a 12 month low of $4.53 and a 12 month high of $22.13. The company has a 50-day moving average price of $14.52 and a 200 day moving average price of $12.37. The company has a market cap of $803.07 million, a price-to-earnings ratio of -9.50 and a beta of 2.92.
Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings results on Thursday, May 7th. The medical research company reported ($0.39) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.39). Accelerate Diagnostics had a negative net margin of 845.43% and a negative return on equity of 5,681.44%. The firm had revenue of $2.34 million during the quarter, compared to the consensus estimate of $2.40 million. As a group, equities research analysts predict that Accelerate Diagnostics will post -1.42 earnings per share for the current fiscal year.
In related news, Director Jack W. Schuler bought 129,000 shares of Accelerate Diagnostics stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $9.18 per share, with a total value of $1,184,220.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Romney Humphries sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $12.00, for a total transaction of $36,000.00. Following the transaction, the insider now directly owns 4,000 shares in the company, valued at $48,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 526,574 shares of company stock worth $5,036,806. Corporate insiders own 44.40% of the company’s stock.
Several large investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in shares of Accelerate Diagnostics by 1.4% during the first quarter. Bank of New York Mellon Corp now owns 120,755 shares of the medical research company’s stock worth $1,005,000 after acquiring an additional 1,644 shares during the period. Victory Capital Management Inc. increased its position in shares of Accelerate Diagnostics by 29.8% during the fourth quarter. Victory Capital Management Inc. now owns 7,639 shares of the medical research company’s stock worth $129,000 after acquiring an additional 1,755 shares during the period. Great West Life Assurance Co. Can purchased a new position in Accelerate Diagnostics during the fourth quarter valued at approximately $33,000. Citigroup Inc. increased its holdings in Accelerate Diagnostics by 44.2% during the first quarter. Citigroup Inc. now owns 8,748 shares of the medical research company’s stock valued at $73,000 after buying an additional 2,682 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Accelerate Diagnostics by 22.6% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 18,143 shares of the medical research company’s stock valued at $151,000 after buying an additional 3,350 shares during the period. 52.99% of the stock is currently owned by institutional investors and hedge funds.
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. It 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, as well as yeast.
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