Accelerate Diagnostics (NASDAQ:AXDX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.

According to Zacks, “Accelerate Diagnostics, Inc. is focused on developing and commercializing instrumentation for the rapid identification and antibiotic susceptibility testing of infectious pathogens. The company is developing BACcel(TM) system, a rapid diagnostic platform for diagnosis in life-threatening bacterial infections and OptiChem(R) surface coatings for use in micro arraying components. Accelerate Diagnostics Inc., formerly known as Accelr8 Technology Corp., is based in Denver, Colorado. “

Separately, BTIG Research cut shares of Accelerate Diagnostics from a “buy” rating to a “neutral” rating in a report on Wednesday, December 13th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $33.00.

Accelerate Diagnostics (NASDAQ:AXDX) traded down $0.35 during trading on Monday, reaching $27.35. 284,797 shares of the company’s stock traded hands, compared to its average volume of 255,278. The company has a market cap of $1,510.00, a PE ratio of -22.79 and a beta of 2.18. Accelerate Diagnostics has a 52-week low of $16.75 and a 52-week high of $30.45.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings results on Thursday, November 2nd. The medical research company reported ($0.31) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.32) by $0.01. Accelerate Diagnostics had a negative net margin of 3,085.36% and a negative return on equity of 60.99%. research analysts predict that Accelerate Diagnostics will post -1.22 earnings per share for the current fiscal year.

In other Accelerate Diagnostics news, Director Jack W. Schuler bought 45,000 shares of the stock in a transaction dated Wednesday, October 18th. The shares were bought at an average cost of $20.14 per share, with a total value of $906,300.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jack W. Schuler bought 50,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were acquired at an average cost of $18.46 per share, for a total transaction of $923,000.00. The disclosure for this purchase can be found here. Insiders have bought 532,645 shares of company stock worth $9,996,693 over the last ninety days. Insiders own 50.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc increased its holdings in shares of Accelerate Diagnostics by 31.7% during the second quarter. Legal & General Group Plc now owns 6,748 shares of the medical research company’s stock worth $184,000 after purchasing an additional 1,625 shares during the period. Quantbot Technologies LP bought a new position in shares of Accelerate Diagnostics during the second quarter worth approximately $228,000. UBS Asset Management Americas Inc. bought a new position in shares of Accelerate Diagnostics during the second quarter worth approximately $243,000. Intl Fcstone Inc. bought a new position in shares of Accelerate Diagnostics during the second quarter worth approximately $322,000. Finally, Mutual of America Capital Management LLC bought a new position in shares of Accelerate Diagnostics during the second quarter worth approximately $332,000. 47.89% of the stock is currently owned by institutional investors.

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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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