Albion Financial Group UT held its stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,278 shares of the medical research company’s stock at the close of the second quarter. Albion Financial Group UT owned about 0.11% of Accelerate Diagnostics worth $1,594,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in AXDX. Legal & General Group Plc boosted 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 worth $123,000 after acquiring an additional 15 shares during the period. CLS Investments LLC acquired a new stake in shares of Accelerate Diagnostics in the second quarter valued at $137,000. SG Americas Securities LLC lifted its holdings in shares of Accelerate Diagnostics by 16.8% in the first quarter. SG Americas Securities LLC now owns 5,885 shares of the medical research company’s stock valued at $142,000 after buying an additional 846 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Accelerate Diagnostics in the second quarter valued at $228,000. Finally, UBS Asset Management Americas Inc. acquired a new stake in shares of Accelerate Diagnostics in the second quarter valued at $243,000. Institutional investors own 44.43% of the company’s stock.
In other Accelerate Diagnostics news, insider Lawrence Mehren sold 223,215 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $22.40, for a total value of $5,000,016.00. Following the transaction, the insider now directly owns 762,381 shares in the company, valued at approximately $17,077,334.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jack W. Schuler acquired 23,400 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was purchased at an average price of $21.35 per share, for a total transaction of $499,590.00. The disclosure for this purchase can be found here. Insiders acquired a total of 161,600 shares of company stock worth $3,461,560 over the last quarter. Corporate insiders own 51.40% of the company’s stock.
Shares of Accelerate Diagnostics, Inc. (AXDX) traded down 0.365% during mid-day trading on Wednesday, hitting $20.475. The stock had a trading volume of 249,279 shares. The firm’s 50-day moving average price is $22.68 and its 200 day moving average price is $25.55. The stock’s market cap is $1.13 billion. Accelerate Diagnostics, Inc. has a 12-month low of $19.20 and a 12-month high of $30.45.
Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings data on Thursday, August 3rd. The medical research company reported ($0.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.01). The firm had revenue of $0.70 million during the quarter, compared to the consensus estimate of $1.40 million. Accelerate Diagnostics had a negative net margin of 5,062.48% and a negative return on equity of 67.44%. Equities analysts forecast that Accelerate Diagnostics, Inc. will post ($1.20) EPS for the current fiscal year.
Several brokerages have recently weighed in on AXDX. ValuEngine lowered Accelerate Diagnostics from a “hold” rating to a “sell” rating in a report on Friday, August 11th. BidaskClub lowered Accelerate Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research lowered Accelerate Diagnostics from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Finally, BTIG Research restated a “buy” rating and issued a $34.00 price objective on shares of Accelerate Diagnostics in a report on Wednesday, July 12th. Three research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price 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.
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