Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Sees Significant Decrease in Short Interest

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 359,000 shares, a decline of 15.6% from the March 15th total of 425,500 shares. Currently, 2.3% of the company’s stock are sold short. Based on an average trading volume of 43,300 shares, the short-interest ratio is currently 8.3 days.

Hedge Funds Weigh In On Accelerate Diagnostics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC purchased a new stake in shares of Accelerate Diagnostics in the 4th quarter valued at $27,000. Renaissance Technologies LLC lifted its position 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 valued at $128,000 after purchasing an additional 65,984 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Accelerate Diagnostics by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock valued at $163,000 after purchasing an additional 8,777 shares during the last quarter. Institutional investors and hedge funds own 17.14% of the company’s stock.

Accelerate Diagnostics Trading Up 6.7 %

NASDAQ:AXDX opened at $0.57 on Wednesday. The firm has a fifty day simple moving average of $0.90 and a 200-day simple moving average of $1.29. Accelerate Diagnostics has a 12 month low of $0.49 and a 12 month high of $2.09. The company has a market capitalization of $14.26 million, a P/E ratio of -0.20 and a beta of 0.46.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $3.00 million. Equities analysts forecast that Accelerate Diagnostics will post -2.3 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Accelerate Diagnostics in a research report on Friday, April 18th. They issued a “hold” rating for the company.

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.