Accelerate Diagnostics Inc. (AXDX) Sees Strong Trading Volume
Shares of Accelerate Diagnostics Inc. (NASDAQ:AXDX) saw an uptick in trading volume on Friday . 623,662 shares were traded during mid-day trading, an increase of 71% from the previous session’s volume of 364,842 shares.The stock last traded at $19.65 and had previously closed at $19.07.
A number of brokerages have issued reports on AXDX. BTIG Research reaffirmed a “buy” rating and issued a $26.00 price objective on shares of Accelerate Diagnostics in a research note on Sunday, May 15th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $25.00 price objective on shares of Accelerate Diagnostics in a research note on Monday, May 16th. Zacks Investment Research cut shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. began coverage on shares of Accelerate Diagnostics in a research note on Thursday, March 24th. They issued an “overweight” rating and a $17.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $22.67.
The stock’s market cap is $1.01 billion. The firm has a 50 day moving average of $15.38 and a 200-day moving average of $14.21.
In related news, Director Jack W. Schuler acquired 20,000 shares of the stock in a transaction that occurred on Friday, May 13th. The stock was acquired at an average cost of $12.45 per share, for a total transaction of $249,000.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jack W. Schuler acquired 4,270 shares of the stock in a transaction that occurred on Friday, May 20th. The shares were bought at an average price of $11.04 per share, with a total value of $47,140.80. The disclosure for this purchase can be found here.
A number of institutional investors recently added to or reduced their stakes in the company. Neuberger Berman Group LLC boosted its position in Accelerate Diagnostics by 124.0% in the fourth quarter. Neuberger Berman Group LLC now owns 48,500 shares of the company’s stock worth $1,042,000 after buying an additional 26,850 shares in the last quarter. Tekla Capital Management LLC boosted its position in Accelerate Diagnostics by 83.0% in the fourth quarter. Tekla Capital Management LLC now owns 264,625 shares of the company’s stock worth $5,687,000 after buying an additional 120,000 shares in the last quarter. Finally, Birchview Capital LP boosted its position in Accelerate Diagnostics by 4.3% in the fourth quarter. Birchview Capital LP now owns 2,155,795 shares of the company’s stock worth $46,328,000 after buying an additional 88,235 shares in the last quarter.
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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