Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Sees Significant Increase in Short Interest

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 463,600 shares, an increase of 15.4% from the January 15th total of 401,900 shares. Currently, 3.0% of the company’s stock are sold short. Based on an average daily trading volume, of 58,300 shares, the days-to-cover ratio is currently 8.0 days.

Analysts Set New Price Targets

Several equities analysts have recently commented on AXDX shares. StockNews.com started coverage on Accelerate Diagnostics in a report on Thursday. They set a “hold” rating for the company. BTIG Research raised Accelerate Diagnostics to a “strong-buy” rating in a report on Wednesday, December 11th.

Accelerate Diagnostics Price Performance

AXDX stock traded down $0.01 on Friday, reaching $1.18. The company’s stock had a trading volume of 26,100 shares, compared to its average volume of 38,417. Accelerate Diagnostics has a 52 week low of $0.73 and a 52 week high of $2.09. The company has a market capitalization of $29.55 million, a P/E ratio of -0.41 and a beta of 0.61. The firm has a fifty day moving average of $1.21 and a two-hundred day moving average of $1.54.

Insider Activity at Accelerate Diagnostics

In related news, Director John Patience bought 200,000 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average cost of $1.57 per share, with a total value of $314,000.00. Following the completion of the acquisition, the director now owns 653,224 shares of the company’s stock, valued at $1,025,561.68. This trade represents a 44.13 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 43.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Accelerate Diagnostics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its position in Accelerate Diagnostics by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock worth $163,000 after purchasing an additional 8,777 shares during the period. Renaissance Technologies LLC raised its stake in Accelerate Diagnostics by 160.6% during the 4th quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock valued at $128,000 after purchasing an additional 65,984 shares during the period. Jane Street Group LLC acquired a new stake in Accelerate Diagnostics during the 4th quarter valued at $27,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Accelerate Diagnostics during the 3rd quarter valued at $34,000. 17.14% of the stock is owned by institutional investors.

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. 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.