NGAM Advisors L.P. purchased a new stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 123,649 shares of the medical research company’s stock, valued at approximately $3,382,000.
Other large investors also recently modified their holdings of the company. Legal & General Group Plc raised its stake in shares of Accelerate Diagnostics by 0.3% in the first quarter. Legal & General Group Plc now owns 5,123 shares of the medical research company’s stock valued at $123,000 after buying an additional 15 shares during the last quarter. First Manhattan Co. acquired a new stake in shares of Accelerate Diagnostics during the first quarter valued at about $129,000. SG Americas Securities LLC boosted its stake in shares of Accelerate Diagnostics by 16.8% in the first quarter. SG Americas Securities LLC now owns 5,885 shares of the medical research company’s stock valued at $142,000 after buying an additional 846 shares during the period. Stifel Financial Corp acquired a new stake in shares of Accelerate Diagnostics during the first quarter valued at about $274,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of Accelerate Diagnostics during the fourth quarter valued at about $282,000. 38.54% of the stock is owned by institutional investors.
Shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) opened at 22.875 on Thursday. Accelerate Diagnostics, Inc. has a 52 week low of $19.20 and a 52 week high of $30.45. The firm’s market cap is $1.19 billion. The firm’s 50-day moving average is $27.43 and its 200 day moving average is $25.72.
Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings results on Thursday, August 3rd. The medical research company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by $0.01. Accelerate Diagnostics had a negative net margin of 5,062.48% and a negative return on equity of 67.44%. The firm had revenue of $0.70 million during the quarter, compared to analysts’ expectations of $1.40 million. Equities research analysts forecast that Accelerate Diagnostics, Inc. will post ($1.20) EPS for the current year.
Several equities research analysts have issued reports on the stock. BidaskClub cut shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $32.00 target price (up previously from $30.00) on shares of Accelerate Diagnostics in a research note on Monday, June 5th. BTIG Research reaffirmed a “buy” rating and set a $34.00 target price on shares of Accelerate Diagnostics in a research note on Wednesday, May 17th. Finally, Zacks Investment Research raised shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research note on Monday, May 8th.
In other news, insider Steven Reichling sold 30,000 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $28.90, for a total value of $867,000.00. Following the completion of the transaction, the insider now owns 30,700 shares in the company, valued at $887,230. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 51.40% of the company’s stock.
Accelerate Diagnostics Company Profile
Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that develop patient outcomes through the diagnosis of serious infections. The Company’s in vitro diagnostic platform, the Accelerate Pheno system utilizes genotypic technology to identify (ID), infectious pathogens and phenotypic technology to conduct antibiotic susceptibility testing (AST), which determines whether live bacterial or fungal cells are resistant or susceptible to a particular antibiotic.
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