Griffin Asset Management Inc. Has $1.20 Million Stock Position in Accelerate Diagnostics, Inc. (NASDAQ:AXDX)

Griffin Asset Management Inc. reduced its holdings in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 19.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,003,581 shares of the medical research company’s stock after selling 241,774 shares during the quarter. Griffin Asset Management Inc.’s holdings in Accelerate Diagnostics were worth $1,204,000 at the end of the most recent reporting period.

Separately, Y Intercept Hong Kong Ltd acquired a new position in Accelerate Diagnostics during the third quarter worth $34,000. 17.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Accelerate Diagnostics

In other Accelerate Diagnostics news, Director John Patience acquired 200,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were purchased at an average price of $1.57 per share, for a total transaction of $314,000.00. Following the completion of the purchase, the director now directly owns 653,224 shares of the company’s stock, valued at approximately $1,025,561.68. This represents a 44.13 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 43.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. BTIG Research upgraded shares of Accelerate Diagnostics to a “strong-buy” rating in a research note on Wednesday, December 11th. StockNews.com assumed coverage on Accelerate Diagnostics in a research report on Tuesday. They issued a “hold” rating on the stock.

Accelerate Diagnostics Trading Up 18.8 %

Shares of AXDX opened at $1.39 on Tuesday. The company’s fifty day simple moving average is $1.32 and its 200 day simple moving average is $1.54. Accelerate Diagnostics, Inc. has a 1-year low of $0.73 and a 1-year high of $2.09. The company has a market cap of $34.81 million, a price-to-earnings ratio of -0.49 and a beta of 0.59.

Accelerate Diagnostics 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.