Accelerate Diagnostics (AXDX) Downgraded by BTIG Research to “Neutral”
BTIG Research cut shares of Accelerate Diagnostics (NASDAQ:AXDX) from a buy rating to a neutral rating in a research report report published on Wednesday. The analysts noted that the move was a valuation call.
Separately, Zacks Investment Research lowered Accelerate Diagnostics from a hold rating to a sell rating in a research report on Tuesday, November 7th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $33.00.
Shares of Accelerate Diagnostics (NASDAQ:AXDX) traded down $1.45 during mid-day trading on Wednesday, reaching $28.55. The company had a trading volume of 456,200 shares, compared to its average volume of 364,011. Accelerate Diagnostics has a 52 week low of $16.75 and a 52 week high of $30.45.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in AXDX. Legal & General Group Plc raised its position in Accelerate Diagnostics by 0.3% during the 1st quarter. Legal & General Group Plc now owns 5,123 shares of the medical research company’s stock valued at $123,000 after purchasing an additional 15 shares during the last quarter. CLS Investments LLC bought a new position in shares of Accelerate Diagnostics in the 2nd quarter worth approximately $137,000. Quantbot Technologies LP bought a new position in shares of Accelerate Diagnostics in the 2nd quarter worth approximately $228,000. UBS Asset Management Americas Inc. bought a new position in shares of Accelerate Diagnostics in the 2nd quarter worth approximately $243,000. Finally, SG Americas Securities LLC raised its position in shares of Accelerate Diagnostics by 87.8% in the 2nd quarter. SG Americas Securities LLC now owns 11,054 shares of the medical research company’s stock worth $302,000 after acquiring an additional 5,169 shares in the last quarter. 47.98% of the stock is owned by institutional investors and hedge funds.
Accelerate Diagnostics Company 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.
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