Short Interest in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Expands By 27.7%

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Craig Hallum lowered their price objective on shares of Accelerate Diagnostics from $2.00 to $1.00 and set a “hold” rating for the company in a research report on Monday, April 1st. StockNews.com assumed coverage on Accelerate Diagnostics in a research note on Sunday. They set a “hold” rating on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Accelerate Diagnostics in a research note on Tuesday, April 2nd.

Institutional Trading of Accelerate Diagnostics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tejara Capital Ltd bought a new stake in shares of Accelerate Diagnostics in the 3rd quarter valued at about $78,000. Griffin Asset Management Inc. boosted its position in Accelerate Diagnostics by 3.0% during the 4th quarter. Griffin Asset Management Inc. now owns 1,219,724 shares of the medical research company’s stock worth $4,781,000 after acquiring an additional 35,146 shares during the last quarter. TCI Wealth Advisors Inc. acquired a new stake in shares of Accelerate Diagnostics in the 3rd quarter valued at approximately $337,000. Finally, Sonora Investment Management Group LLC acquired a new stake in shares of Accelerate Diagnostics in the 3rd quarter valued at approximately $63,000. 17.14% of the stock is owned by institutional investors.

Accelerate Diagnostics Trading Down 2.2 %

AXDX traded down $0.02 during trading on Monday, reaching $0.91. The company had a trading volume of 2,200 shares, compared to its average volume of 111,925. Accelerate Diagnostics has a 12-month low of $0.73 and a 12-month high of $11.90. The firm’s 50-day simple moving average is $0.96 and its 200 day simple moving average is $2.92.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings results on Thursday, March 28th. The medical research company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.27). The firm had revenue of $3.03 million during the quarter, compared to analyst estimates of $3.80 million. Analysts expect that Accelerate Diagnostics will post -2.27 earnings per share 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.