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. “
Several other research analysts have also issued reports on the stock. BTIG Research raised shares of Accelerate Diagnostics from a “neutral” rating to a “buy” rating in a research note on Thursday, August 25th. JPMorgan Chase & Co. increased their target price on shares of Accelerate Diagnostics from $17.00 to $25.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $25.33.
Shares of Accelerate Diagnostics (NASDAQ:AXDX) opened at 25.97 on Monday. Accelerate Diagnostics has a one year low of $10.29 and a one year high of $28.50. The company’s market cap is $1.33 billion. The company’s 50 day moving average is $23.02 and its 200 day moving average is $16.63.
In other Accelerate Diagnostics news, Director Jack W. Schuler acquired 90,147 shares of the stock in a transaction on Thursday, June 30th. The shares were purchased at an average price of $13.95 per share, for a total transaction of $1,257,550.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 51.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Group LTD increased its position in Accelerate Diagnostics by 58.0% in the first quarter. BlackRock Group LTD now owns 11,022 shares of the company’s stock valued at $159,000 after buying an additional 4,047 shares during the last quarter. RTW Investments LLC increased its position in Accelerate Diagnostics by 11.1% in the first quarter. RTW Investments LLC now owns 117,176 shares of the company’s stock valued at $1,684,000 after buying an additional 11,708 shares during the last quarter. State Street Corp increased its position in Accelerate Diagnostics by 2.6% in the first quarter. State Street Corp now owns 369,035 shares of the company’s stock valued at $5,302,000 after buying an additional 9,203 shares during the last quarter. Fairfield Bush & CO. increased its position in Accelerate Diagnostics by 3.3% in the first quarter. Fairfield Bush & CO. now owns 18,875 shares of the company’s stock valued at $271,000 after buying an additional 600 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Accelerate Diagnostics by 5.6% in the first quarter. Geode Capital Management LLC now owns 187,380 shares of the company’s stock valued at $2,692,000 after buying an additional 9,910 shares during the last quarter. 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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