Accelerate Diagnostics Inc. (AXDX) Rating Increased to Hold at Zacks Investment Research
Accelerate Diagnostics Inc. (NASDAQ:AXDX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday.
According to Zacks, “Accelerate Diagnostics, Inc. is focused on developing and commercializing instrumentation for the rapid identification and antibiotic susceptibility testing of infectious pathogens. The company is developing BACcel(TM) system, a rapid diagnostic platform for diagnosis in life-threatening bacterial infections and OptiChem(R) surface coatings for use in micro arraying components. Accelerate Diagnostics Inc., formerly known as Accelr8 Technology Corp., is based in Denver, Colorado. “
Other research analysts also recently issued reports about the stock. BTIG Research reaffirmed a “buy” rating and issued a $26.00 target price on shares of Accelerate Diagnostics in a research note on Wednesday, June 15th. JPMorgan Chase & Co. lifted their price target on shares of Accelerate Diagnostics from $17.00 to $25.00 and gave the company an “overweight” rating in a report on Tuesday, August 9th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $25.33.
Shares of Accelerate Diagnostics (NASDAQ:AXDX) opened at 25.97 on Monday. The stock’s market cap is $1.33 billion. Accelerate Diagnostics has a one year low of $10.29 and a one year high of $28.50. The stock has a 50 day moving average of $23.02 and a 200 day moving average of $16.63.
In related news, Director Jack W. Schuler purchased 90,147 shares of the business’s stock in a transaction that occurred on Thursday, June 30th. The shares were acquired at an average price of $13.95 per share, for a total transaction of $1,257,550.65. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 51.40% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the stock. Geneva Advisors LLC boosted its stake in shares of Accelerate Diagnostics by 3.6% in the second quarter. Geneva Advisors LLC now owns 27,180 shares of the company’s stock worth $391,000 after buying an additional 934 shares during the period. Geode Capital Management LLC boosted its stake in shares of Accelerate Diagnostics by 5.6% in the first quarter. Geode Capital Management LLC now owns 187,380 shares of the company’s stock worth $2,692,000 after buying an additional 9,910 shares during the period. RTW Investments LLC boosted its stake in shares of Accelerate Diagnostics by 11.1% in the first quarter. RTW Investments LLC now owns 117,176 shares of the company’s stock worth $1,684,000 after buying an additional 11,708 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Accelerate Diagnostics during the first quarter worth approximately $1,019,000. Finally, Oaktop Capital Management II L.P. acquired a new stake in shares of Accelerate Diagnostics during the second quarter worth approximately $1,799,000. Hedge funds and other institutional investors own 35.62% of the company’s stock.
About Accelerate Diagnostics
Accelerate Diagnostics, Inc is an in vitro diagnostics company engaged in providing solutions that improve patient outcomes and lower healthcare costs through the diagnosis of serious infections. The Company’s technology platform is built to address these challenges by delivering testing of infectious pathogens in various patient sample types.
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