UBS Asset Management Americas Inc. acquired a new position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 8,900 shares of the medical research company’s stock, valued at approximately $243,000.

Several other institutional investors also recently made changes to their positions in AXDX. AXA acquired a new position in shares of Accelerate Diagnostics during the second quarter worth about $8,441,000. FMR LLC acquired a new position in shares of Accelerate Diagnostics during the first quarter worth about $7,260,000. Russell Investments Group Ltd. acquired a new position in shares of Accelerate Diagnostics during the second quarter worth about $7,616,000. Credit Suisse AG grew its position in shares of Accelerate Diagnostics by 138.4% during the first quarter. Credit Suisse AG now owns 413,131 shares of the medical research company’s stock worth $9,998,000 after buying an additional 239,803 shares in the last quarter. Finally, Artal Group S.A. acquired a new position in shares of Accelerate Diagnostics during the second quarter worth about $5,470,000. 44.63% of the stock is owned by institutional investors and hedge funds.

Accelerate Diagnostics, Inc. (AXDX) opened at $18.00 on Friday.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings results on Thursday, August 3rd. The medical research company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.01). The business had revenue of $0.70 million during the quarter, compared to analyst estimates of $1.40 million. Accelerate Diagnostics had a negative net margin of 3,085.36% and a negative return on equity of 66.31%. sell-side analysts predict that Accelerate Diagnostics, Inc. will post -1.2 earnings per share for the current fiscal year.

In other Accelerate Diagnostics news, Director Jack W. Schuler purchased 45,000 shares of the stock in a transaction that occurred on Wednesday, October 18th. The stock was purchased at an average cost of $20.14 per share, with a total value of $906,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack W. Schuler purchased 80,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $21.43 per share, with a total value of $1,714,400.00. The disclosure for this purchase can be found here. Insiders purchased 655,622 shares of company stock valued at $13,251,092 over the last ninety days. 50.00% of the stock is currently owned by corporate insiders.

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A number of brokerages have recently commented on AXDX. BidaskClub raised Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. BTIG Research reissued a “buy” rating and set a $34.00 price objective on shares of Accelerate Diagnostics in a research report on Wednesday, July 12th. Zacks Investment Research downgraded Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Finally, ValuEngine downgraded Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. Accelerate Diagnostics has a consensus rating of “Hold” and an average price target of $33.00.

Accelerate Diagnostics Profile

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.

Institutional Ownership by Quarter for Accelerate Diagnostics (NASDAQ:AXDX)

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