Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Short Interest Up 27.7% in April

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 373,700 shares, a growth of 27.7% from the March 31st total of 292,600 shares. Currently, 2.9% of the shares of the stock are short sold. Based on an average trading volume of 86,400 shares, the short-interest ratio is presently 4.3 days.

Accelerate Diagnostics Price Performance

AXDX stock traded down $0.02 during trading on Monday, reaching $0.91. The company had a trading volume of 2,200 shares, compared to its average volume of 111,925. Accelerate Diagnostics has a 52 week low of $0.73 and a 52 week high of $11.90. The business has a 50 day moving average of $0.96 and a 200 day moving average of $2.92.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings results on Thursday, March 28th. The medical research company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.62) by ($0.27). The firm had revenue of $3.03 million for the quarter, compared to analysts’ expectations of $3.80 million. On average, sell-side analysts forecast that Accelerate Diagnostics will post -2.27 EPS for the current year.

Institutional Trading of Accelerate Diagnostics

Several institutional investors and hedge funds have recently modified their holdings of the company. Tejara Capital Ltd bought a new stake in Accelerate Diagnostics during the 3rd quarter valued at about $78,000. Griffin Asset Management Inc. boosted its holdings in Accelerate Diagnostics by 3.0% during the fourth quarter. Griffin Asset Management Inc. now owns 1,219,724 shares of the medical research company’s stock worth $4,781,000 after buying an additional 35,146 shares in the last quarter. TCI Wealth Advisors Inc. purchased a new position in Accelerate Diagnostics during the third quarter valued at $337,000. Finally, Sonora Investment Management Group LLC purchased a new position in Accelerate Diagnostics during the third quarter valued at $63,000. 17.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AXDX has been the subject of a number of recent analyst reports. Craig Hallum decreased their price target on Accelerate Diagnostics from $2.00 to $1.00 and set a “hold” rating for the company in a report on Monday, April 1st. William Blair reissued an “outperform” rating on shares of Accelerate Diagnostics in a research report on Tuesday, April 2nd. Finally, StockNews.com assumed coverage on shares of Accelerate Diagnostics in a report on Sunday. They issued a “hold” rating on the stock.

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.