Short Interest in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Declines By 18.4%

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) was the recipient of a large decrease in short interest in April. As of April 15th, there was short interest totalling 292,800 shares, a decrease of 18.4% from the March 31st total of 359,000 shares. Based on an average daily trading volume, of 41,700 shares, the short-interest ratio is presently 7.0 days. Currently, 1.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On Accelerate Diagnostics

A number of institutional investors and hedge funds have recently bought and sold shares of AXDX. Geode Capital Management LLC raised its holdings in shares of Accelerate Diagnostics by 6.9% in 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 in the last quarter. Renaissance Technologies LLC boosted its holdings in Accelerate Diagnostics by 160.6% during the fourth quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock worth $128,000 after buying an additional 65,984 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in Accelerate Diagnostics in the fourth quarter worth approximately $27,000. 17.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Accelerate Diagnostics in a research report on Saturday, April 26th. They set a “hold” rating on the stock.

Accelerate Diagnostics Price Performance

Shares of NASDAQ:AXDX opened at $0.51 on Friday. The stock’s 50 day moving average price is $0.81 and its 200 day moving average price is $1.23. The stock has a market cap of $12.86 million, a price-to-earnings ratio of -0.18 and a beta of 0.46. Accelerate Diagnostics has a 12 month low of $0.49 and a 12 month high of $2.09.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Thursday, March 20th. The medical research company reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.13. The firm had revenue of $2.82 million during the quarter, compared to the consensus estimate of $3.00 million. On average, sell-side analysts expect that Accelerate Diagnostics will post -2.3 EPS for the current year.

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.