BTIG Research Lowers Accelerate Diagnostics (AXDX) to Neutral

Accelerate Diagnostics (NASDAQ:AXDX) was downgraded by analysts at BTIG Research from a “buy” rating to a “neutral” rating in a report released on Wednesday. The analysts noted that the move was a valuation call.

Separately, Zacks Investment Research downgraded Accelerate Diagnostics from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $33.00.

Shares of Accelerate Diagnostics (AXDX) opened at $30.00 on Wednesday. Accelerate Diagnostics has a fifty-two week low of $16.75 and a fifty-two week high of $30.45.

In other news, Director Jack W. Schuler acquired 50,000 shares of Accelerate Diagnostics stock in a transaction on Wednesday, November 8th. The shares were bought at an average cost of $18.46 per share, for a total transaction of $923,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jack W. Schuler acquired 276,200 shares of Accelerate Diagnostics stock in a transaction on Thursday, October 12th. The shares were purchased at an average price of $19.74 per share, for a total transaction of $5,452,188.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 981,667 shares of company stock worth $18,879,924 over the last 90 days. 50.00% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. AXA purchased a new position in shares of Accelerate Diagnostics in the 2nd quarter valued at $8,441,000. Russell Investments Group Ltd. purchased a new position in shares of Accelerate Diagnostics in the 2nd quarter valued at $7,616,000. Artal Group S.A. purchased a new position in shares of Accelerate Diagnostics in the 2nd quarter valued at $5,470,000. Oaktop Capital Management II L.P. purchased a new position in shares of Accelerate Diagnostics in the 2nd quarter valued at $4,239,000. Finally, Kornitzer Capital Management Inc. KS increased its holdings in shares of Accelerate Diagnostics by 37.3% in the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 530,219 shares of the medical research company’s stock valued at $11,903,000 after acquiring an additional 144,055 shares during the period. Institutional investors own 47.98% of the company’s stock.

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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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