Accelerate Diagnostics, Inc. (AXDX) Insider Sells $5,000,016.00 in Stock

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) insider Lawrence Mehren sold 223,215 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $22.40, for a total transaction of $5,000,016.00. Following the completion of the transaction, the insider now owns 762,381 shares in the company, valued at $17,077,334.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Accelerate Diagnostics, Inc. (NASDAQ AXDX) traded down 7.86% during mid-day trading on Friday, reaching $21.70. The company’s stock had a trading volume of 1,225,291 shares. The company’s 50-day moving average price is $26.25 and its 200-day moving average price is $25.76. Accelerate Diagnostics, Inc. has a 12-month low of $19.20 and a 12-month high of $30.45. The stock’s market capitalization is $1.20 billion.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings data on Thursday, August 3rd. The medical research company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by $0.01. Accelerate Diagnostics had a negative return on equity of 67.44% and a negative net margin of 5,062.48%. The firm had revenue of $0.70 million during the quarter, compared to the consensus estimate of $1.40 million. On average, equities research analysts forecast that Accelerate Diagnostics, Inc. will post ($1.20) earnings per share for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in the company. Birchview Capital LP increased its stake in Accelerate Diagnostics by 0.4% in the first quarter. Birchview Capital LP now owns 2,183,795 shares of the medical research company’s stock worth $52,848,000 after buying an additional 8,000 shares during the last quarter. Vanguard Group Inc. increased its stake in Accelerate Diagnostics by 6.7% in the second quarter. Vanguard Group Inc. now owns 1,237,174 shares of the medical research company’s stock worth $33,837,000 after buying an additional 77,753 shares during the last quarter. Blair William & Co. IL increased its stake in Accelerate Diagnostics by 15.1% in the second quarter. Blair William & Co. IL now owns 787,483 shares of the medical research company’s stock worth $21,538,000 after buying an additional 103,276 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Accelerate Diagnostics by 1.3% in the first quarter. Nuveen Asset Management LLC now owns 736,997 shares of the medical research company’s stock worth $17,835,000 after buying an additional 9,568 shares during the last quarter. Finally, Loomis Sayles & Co. L P increased its stake in Accelerate Diagnostics by 25.2% in the first quarter. Loomis Sayles & Co. L P now owns 679,030 shares of the medical research company’s stock worth $16,433,000 after buying an additional 136,770 shares during the last quarter. 38.65% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have issued reports on the company. BidaskClub raised Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. BTIG Research reaffirmed a “buy” rating and issued a $34.00 target price on shares of Accelerate Diagnostics in a research note on Wednesday, May 17th. Zacks Investment Research raised Accelerate Diagnostics from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Monday, May 8th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $32.00 target price (up previously from $30.00) on shares of Accelerate Diagnostics in a research note on Monday, June 5th. Finally, ValuEngine lowered Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $33.00.

About Accelerate Diagnostics

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.