Tag Archives: AXDX

Accelerate Diagnostics (NASDAQ:AXDX) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Accelerate Diagnostics (NASDAQ:AXDX) from a hold rating to a sell rating in a research note released on Friday morning, Zacks.com reports.

According to Zacks, “Accelerate Diagnostics, Inc. is focused on developing and commercializing instrumentation for the rapid identification and antibiotic susceptibility testing of infectious pathogens. The company is developing BACcel(TM) system, a rapid diagnostic platform for diagnosis in life-threatening bacterial infections and OptiChem(R) surface coatings for use in micro arraying components. Accelerate Diagnostics Inc., formerly known as Accelr8 Technology Corp., is based in Denver, Colorado. “

Get Accelerate Diagnostics alerts:

AXDX opened at $6.04 on Friday. Accelerate Diagnostics has a 12-month low of $5.35 and a 12-month high of $15.60. The business’s fifty day simple moving average is $6.68 and its 200-day simple moving average is $7.71. The company has a market capitalization of $371.45 million, a price-to-earnings ratio of -4.22 and a beta of 1.88.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings data on Wednesday, August 4th. The medical research company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.03). On average, equities analysts forecast that Accelerate Diagnostics will post -1.45 EPS for the current fiscal year.

In related news, CEO Jack Phillips sold 23,479 shares of the firm’s stock in a transaction dated Tuesday, June 22nd. The stock was sold at an average price of $7.94, for a total transaction of $186,423.26. Following the sale, the chief executive officer now owns 136,177 shares of the company’s stock, valued at $1,081,245.38. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 45.30% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Swiss National Bank boosted its holdings in Accelerate Diagnostics by 4.5% in the first quarter. Swiss National Bank now owns 71,700 shares of the medical research company’s stock worth $597,000 after acquiring an additional 3,100 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Accelerate Diagnostics by 5.4% in the first quarter. California State Teachers Retirement System now owns 49,336 shares of the medical research company’s stock worth $410,000 after acquiring an additional 2,537 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in Accelerate Diagnostics by 592.7% in the first quarter. Rafferty Asset Management LLC now owns 329,552 shares of the medical research company’s stock worth $2,742,000 after acquiring an additional 281,974 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Accelerate Diagnostics by 8.1% in the first quarter. Principal Financial Group Inc. now owns 44,129 shares of the medical research company’s stock worth $367,000 after acquiring an additional 3,299 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Accelerate Diagnostics by 34.1% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 58,170 shares of the medical research company’s stock worth $469,000 after acquiring an additional 14,807 shares in the last quarter. 39.29% of the stock is owned by institutional investors and hedge funds.

About Accelerate Diagnostics

Accelerate Diagnostics, Inc is an in vitro diagnostics company, which engages in the provision of solutions that improve patient outcomes and lower healthcare costs through the rapid diagnosis of serious infections. It also focuses on developing and commercializing innovative instrumentation for the rapid identification and antibiotic susceptibility testing of infectious pathogens.

Recommended Story: History of the Euro STOXX 50 Index

Get a free copy of the Zacks research report on Accelerate Diagnostics (AXDX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com