Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Sees Large Growth in Short Interest

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 463,600 shares, an increase of 15.4% from the January 15th total of 401,900 shares. Approximately 3.0% of the company’s shares are sold short. Based on an average trading volume of 58,300 shares, the days-to-cover ratio is presently 8.0 days.

Insider Activity at Accelerate Diagnostics

In other news, Director John Patience purchased 200,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $1.57 per share, for a total transaction of $314,000.00. Following the completion of the acquisition, the director now owns 653,224 shares of the company’s stock, valued at approximately $1,025,561.68. This trade represents a 44.13 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 43.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Accelerate Diagnostics

Institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC acquired a new stake in Accelerate Diagnostics in the 4th quarter worth approximately $27,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Accelerate Diagnostics during the 3rd quarter valued at approximately $34,000. Renaissance Technologies LLC raised its holdings in Accelerate Diagnostics by 160.6% in the 4th quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock worth $128,000 after purchasing an additional 65,984 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Accelerate Diagnostics by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock worth $163,000 after purchasing an additional 8,777 shares during the last quarter. 17.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AXDX. StockNews.com assumed coverage on Accelerate Diagnostics in a research note on Thursday. They set a “hold” rating on the stock. BTIG Research upgraded shares of Accelerate Diagnostics to a “strong-buy” rating in a research note on Wednesday, December 11th.

Accelerate Diagnostics Stock Performance

Shares of AXDX stock traded down $0.01 during mid-day trading on Friday, hitting $1.18. 26,100 shares of the stock traded hands, compared to its average volume of 38,417. Accelerate Diagnostics has a 52-week low of $0.73 and a 52-week high of $2.09. The stock’s fifty day moving average is $1.21 and its two-hundred day moving average is $1.54.

Accelerate Diagnostics Company Profile

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.