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

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 551,700 shares, a growth of 30.0% from the May 31st total of 424,400 shares. Approximately 4.5% of the shares of the company are sold short. Based on an average trading volume of 77,900 shares, the short-interest ratio is presently 7.1 days.

Accelerate Diagnostics Stock Performance

NASDAQ:AXDX opened at $1.17 on Monday. The stock has a 50-day simple moving average of $1.11 and a two-hundred day simple moving average of $1.59. The firm has a market capitalization of $25.80 million, a PE ratio of -0.29 and a beta of 0.65. Accelerate Diagnostics has a 52-week low of $0.73 and a 52-week high of $8.72.

Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results on Wednesday, May 8th. The medical research company reported ($0.88) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.16). The business had revenue of $2.92 million for the quarter, compared to the consensus estimate of $3.00 million. Equities analysts forecast that Accelerate Diagnostics will post -2.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. increased its stake in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,354,254 shares of the medical research company’s stock after acquiring an additional 134,530 shares during the quarter. Griffin Asset Management Inc. owned about 6.25% of Accelerate Diagnostics worth $1,341,000 at the end of the most recent quarter. Institutional investors own 17.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AXDX shares. Craig Hallum lowered their target price on Accelerate Diagnostics from $2.00 to $1.00 and set a “hold” rating on the stock in a report on Monday, April 1st. William Blair reissued an “outperform” rating on shares of Accelerate Diagnostics in a report on Tuesday, April 2nd. Finally, StockNews.com initiated coverage on shares of Accelerate Diagnostics in a report on Monday. They set a “hold” rating for the company.

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.