Accelerate Diagnostics, Inc. (AXDX) Shares Sold by TIAA CREF Investment Management LLC
TIAA CREF Investment Management LLC lowered its stake in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 6.5% during the first quarter, Holdings Channel reports. The fund owned 62,025 shares of the medical research company’s stock after selling 4,336 shares during the period. TIAA CREF Investment Management LLC’s holdings in Accelerate Diagnostics were worth $1,501,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. First Manhattan Co. acquired a new stake in Accelerate Diagnostics during the first quarter valued at $129,000. SG Americas Securities LLC raised its stake in 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 last quarter. Stifel Financial Corp acquired a new stake in Accelerate Diagnostics during the first quarter valued at $274,000. Russell Investments Group Ltd. acquired a new stake in Accelerate Diagnostics during the fourth quarter valued at $282,000. Finally, AQR Capital Management LLC acquired a new stake in Accelerate Diagnostics during the fourth quarter valued at $329,000. Hedge funds and other institutional investors own 38.54% of the company’s stock.
Accelerate Diagnostics, Inc. (NASDAQ AXDX) traded up 0.95% during mid-day trading on Friday, reaching $21.30. 637,367 shares of the company’s stock traded hands. The stock’s market capitalization is $1.18 billion. Accelerate Diagnostics, Inc. has a 12 month low of $19.20 and a 12 month high of $30.45. The firm’s 50-day moving average price is $26.93 and its 200 day moving average price is $25.70.
Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Thursday, August 3rd. The medical research company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.30) by $0.01. The firm had revenue of $0.70 million during the quarter, compared to the consensus estimate of $1.40 million. Accelerate Diagnostics had a negative return on equity of 67.44% and a negative net margin of 5,062.48%. Equities research analysts predict that Accelerate Diagnostics, Inc. will post ($1.20) EPS for the current year.
AXDX has been the subject of several recent research reports. BTIG Research reiterated a “buy” rating and set a $34.00 target price on shares of Accelerate Diagnostics in a research note on Wednesday, May 17th. Zacks Investment Research upgraded shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Monday, May 8th. BidaskClub upgraded shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Piper Jaffray Companies reiterated 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. Finally, ValuEngine lowered shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Friday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $33.00.
In related 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 directly owns 30,700 shares of the company’s stock, valued at $887,230. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 51.40% of the stock is owned by company insiders.
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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