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

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 373,700 shares, a growth of 27.7% from the March 31st total of 292,600 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 86,400 shares, the days-to-cover ratio is presently 4.3 days.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Tejara Capital Ltd bought a new stake in shares of Accelerate Diagnostics during the 3rd quarter worth approximately $78,000. Griffin Asset Management Inc. increased its stake in Accelerate Diagnostics by 3.0% in the fourth quarter. Griffin Asset Management Inc. now owns 1,219,724 shares of the medical research company’s stock worth $4,781,000 after purchasing an additional 35,146 shares during the period. TCI Wealth Advisors Inc. purchased a new stake in Accelerate Diagnostics in the third quarter worth $337,000. Finally, Sonora Investment Management Group LLC bought a new stake in shares of Accelerate Diagnostics during the third quarter worth $63,000. Institutional investors own 17.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AXDX. StockNews.com initiated coverage on Accelerate Diagnostics in a report on Sunday. They set a “hold” rating on the stock. Craig Hallum reduced their target price on shares of Accelerate Diagnostics from $2.00 to $1.00 and set a “hold” rating on the stock in a report on Monday, April 1st. Finally, William Blair reiterated an “outperform” rating on shares of Accelerate Diagnostics in a research report on Tuesday, April 2nd.

Accelerate Diagnostics Stock Down 0.8 %

NASDAQ AXDX opened at $0.92 on Tuesday. Accelerate Diagnostics has a 52 week low of $0.73 and a 52 week high of $11.90. The firm has a market capitalization of $19.99 million, a price-to-earnings ratio of -0.19 and a beta of 0.52. The company has a fifty day moving average of $0.96 and a two-hundred day moving average of $2.88.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings results on Thursday, March 28th. The medical research company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.27). The company had revenue of $3.03 million for the quarter, compared to the consensus estimate of $3.80 million. Equities research analysts anticipate that Accelerate Diagnostics will post -2.27 EPS for the current year.

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.