Accelerate Diagnostics, Inc. (NASDAQ:AXDX) CEO Jack Phillips Sells 25,343 Shares

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) CEO Jack Phillips sold 25,343 shares of the company’s stock in a transaction dated Friday, April 4th. The shares were sold at an average price of $0.65, for a total transaction of $16,472.95. Following the transaction, the chief executive officer now directly owns 191,374 shares of the company’s stock, valued at $124,393.10. This represents a 11.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Accelerate Diagnostics Stock Performance

Shares of Accelerate Diagnostics stock opened at $0.62 on Tuesday. The firm has a market cap of $15.68 million, a P/E ratio of -0.22 and a beta of 0.46. The firm’s 50-day simple moving average is $1.08 and its 200-day simple moving average is $1.39. Accelerate Diagnostics, Inc. has a twelve month low of $0.62 and a twelve month high of $2.09.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings data on Thursday, March 20th. The medical research company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.13. The company had revenue of $2.82 million for the quarter, compared to analyst estimates of $3.00 million. On average, equities analysts forecast that Accelerate Diagnostics, Inc. will post -2.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd acquired a new stake in shares of Accelerate Diagnostics in the 3rd quarter valued at $34,000. Jane Street Group LLC acquired a new position in Accelerate Diagnostics in the fourth quarter valued at about $27,000. Renaissance Technologies LLC grew its stake 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 during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Accelerate Diagnostics by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock worth $163,000 after buying an additional 8,777 shares in the last quarter. 17.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on AXDX. StockNews.com began coverage on Accelerate Diagnostics in a research note on Wednesday, April 2nd. They set a “hold” rating on the stock. BTIG Research upgraded Accelerate Diagnostics to a “strong-buy” rating in a research report on Wednesday, December 11th.

About Accelerate Diagnostics

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.