Accelerate Diagnostics, Inc. (NASDAQ:AXDX) CEO Jack Phillips Sells 26,735 Shares

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) CEO Jack Phillips sold 26,735 shares of the company’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $0.78, for a total value of $20,853.30. Following the sale, the chief executive officer now owns 162,919 shares of the company’s stock, valued at approximately $127,076.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Jack Phillips also recently made the following trade(s):

• On Friday, April 12th, Jack Phillips sold 26,545 shares of Accelerate Diagnostics stock. The stock was sold at an average price of $0.86, for a total value of $22,828.70.
• On Thursday, April 4th, Jack Phillips sold 15,887 shares of Accelerate Diagnostics stock. The stock was sold at an average price of $0.88, for a total value of $13,980.56.
• On Thursday, February 1st, Jack Phillips sold 494 shares of Accelerate Diagnostics stock. The stock was sold at an average price of $1.30, for a total value of $642.20.

Accelerate Diagnostics Price Performance

Shares of AXDX traded up $0.03 during mid-day trading on Thursday, reaching $0.77. The company had a trading volume of 34,997 shares, compared to its average volume of 119,337. Accelerate Diagnostics, Inc. has a twelve month low of $0.73 and a twelve month high of $11.90. The company’s 50-day moving average is $1.01 and its 200-day moving average is $3.22. The company has a market capitalization of $16.68 million, a P/E ratio of -0.16 and a beta of 0.52.

Hedge Funds Weigh In On Accelerate Diagnostics

A number of hedge funds have recently modified their holdings of the stock. Griffin Asset Management Inc. raised its holdings in shares of Accelerate Diagnostics by 11.0% in the 1st quarter. Griffin Asset Management Inc. now owns 1,354,254 shares of the medical research company’s stock worth $1,341,000 after buying an additional 134,530 shares in the last quarter. Tejara Capital Ltd acquired a new stake in Accelerate Diagnostics during the 3rd quarter valued at $78,000. Sonora Investment Management Group LLC acquired a new stake in Accelerate Diagnostics during the 3rd quarter valued at $63,000. TCI Wealth Advisors Inc. acquired a new stake in Accelerate Diagnostics during the 3rd quarter valued at $337,000. Finally, Geode Capital Management LLC increased its holdings in Accelerate Diagnostics by 31.8% during the 2nd quarter. Geode Capital Management LLC now owns 655,906 shares of the medical research company’s stock valued at $531,000 after purchasing an additional 158,383 shares in the last quarter. 17.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on AXDX shares. StockNews.com began coverage on Accelerate Diagnostics in a research report on Friday, April 12th. They issued a “hold” rating for the company. Craig Hallum dropped their target price on Accelerate Diagnostics from $2.00 to $1.00 and set a “hold” rating for the company in a report on Monday, April 1st. Finally, William Blair reissued an “outperform” rating on shares of Accelerate Diagnostics in a report on Tuesday, April 2nd.

About Accelerate Diagnostics

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States, Europe, and the Middle East. The company offers Accelerate Pheno system, an in vitro diagnostic platform for the identification and antibiotic susceptibility testing of pathogens associated with serious or health care-associated infections, including gram-positive and gram-negative organisms.