Short Interest in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Declines By 6.0%

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) was the target of a large drop in short interest in December. As of December 15th, there was short interest totalling 493,500 shares, a drop of 6.0% from the November 30th total of 525,000 shares. Currently, 3.2% of the company’s stock are short sold. Based on an average daily volume of 65,000 shares, the days-to-cover ratio is presently 7.6 days.

Wall Street Analyst Weigh In

Several research firms recently commented on AXDX. BTIG Research upgraded Accelerate Diagnostics to a “strong-buy” rating in a report on Wednesday, December 11th. StockNews.com assumed coverage on shares of Accelerate Diagnostics in a report on Friday. They set a “hold” rating for the company.

Accelerate Diagnostics Trading Up 0.5 %

AXDX stock traded up $0.01 during trading on Tuesday, reaching $1.16. The stock had a trading volume of 36,895 shares, compared to its average volume of 81,456. The stock’s 50 day moving average is $1.60 and its two-hundred day moving average is $1.54. The firm has a market cap of $28.93 million, a PE ratio of -0.40 and a beta of 0.56. Accelerate Diagnostics has a 52 week low of $0.73 and a 52 week high of $4.24.

Insider Buying and Selling at Accelerate Diagnostics

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

Hedge Funds Weigh In On Accelerate Diagnostics

An institutional investor recently bought a new position in Accelerate Diagnostics stock. Y Intercept Hong Kong Ltd acquired a new stake in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 19,866 shares of the medical research company’s stock, valued at approximately $34,000. Y Intercept Hong Kong Ltd owned 0.08% of Accelerate Diagnostics at the end of the most recent reporting period. 17.14% of the stock is currently owned by institutional investors and hedge funds.

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.