Zacks Investment Research cut shares of Accelerate Diagnostics (NASDAQ:AXDX) from a hold rating to a sell rating in a research report sent to investors 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. “

Separately, BTIG Research cut shares of Accelerate Diagnostics from a buy rating to a neutral rating in a research note on Wednesday, December 13th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $33.00.

Shares of Accelerate Diagnostics (NASDAQ:AXDX) remained flat at $$27.85 on Monday. The company had a trading volume of 253,600 shares, compared to its average volume of 281,633. Accelerate Diagnostics has a fifty-two week low of $16.75 and a fifty-two week high of $30.45. The firm has a market capitalization of $1,560.00, a PE ratio of -23.21 and a beta of 2.18.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings data on Thursday, November 2nd. The medical research company reported ($0.31) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.32) by $0.01. Accelerate Diagnostics had a negative net margin of 3,085.36% and a negative return on equity of 60.99%. analysts anticipate that Accelerate Diagnostics will post -1.22 earnings per share for the current year.

In other Accelerate Diagnostics news, Director Jack W. Schuler acquired 50,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was acquired at an average cost of $18.46 per share, with a total value of $923,000.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jack W. Schuler acquired 340,964 shares of the company’s stock in a transaction dated Monday, November 6th. The shares were acquired at an average cost of $18.51 per share, with a total value of $6,311,243.64. Following the completion of the purchase, the director now owns 44,670 shares in the company, valued at $826,841.70. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 487,645 shares of company stock valued at $9,090,393. Corporate insiders own 50.00% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of AXDX. Schwab Charles Investment Management Inc. increased its stake in shares of Accelerate Diagnostics by 7.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 117,236 shares of the medical research company’s stock worth $3,207,000 after purchasing an additional 7,930 shares in the last quarter. First Trust Advisors LP purchased a new stake in Accelerate Diagnostics in the 2nd quarter worth approximately $1,209,000. Rhumbline Advisers grew its stake in Accelerate Diagnostics by 9.9% in the 2nd quarter. Rhumbline Advisers now owns 30,863 shares of the medical research company’s stock worth $844,000 after acquiring an additional 2,787 shares during the period. Bank of New York Mellon Corp grew its stake in Accelerate Diagnostics by 32.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 156,779 shares of the medical research company’s stock worth $4,288,000 after acquiring an additional 38,038 shares during the period. Finally, Legal & General Group Plc grew its stake in Accelerate Diagnostics by 31.7% in the 2nd quarter. Legal & General Group Plc now owns 6,748 shares of the medical research company’s stock worth $184,000 after acquiring an additional 1,625 shares during the period. 47.89% of the stock is owned by institutional investors and hedge funds.

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About Accelerate Diagnostics

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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