Accelerate Diagnostics (NASDAQ:AXDX) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.54 and traded as low as $1.19. Accelerate Diagnostics shares last traded at $1.20, with a volume of 23,536 shares traded.

Analyst Ratings Changes

A number of research firms have commented on AXDX. BTIG Research upgraded shares of Accelerate Diagnostics to a “strong-buy” rating in a research report on Wednesday, December 11th. StockNews.com began coverage on shares of Accelerate Diagnostics in a research report on Thursday. They set a “hold” rating on the stock.

Accelerate Diagnostics Stock Performance

The company’s 50 day moving average price is $1.22 and its 200-day moving average price is $1.54. The company has a market cap of $30.05 million, a price-to-earnings ratio of -0.42 and a beta of 0.61.

Insider Transactions at Accelerate Diagnostics

In other Accelerate Diagnostics news, Director John Patience acquired 200,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average price of $1.57 per share, with a total value of $314,000.00. Following the purchase, the director now directly owns 653,224 shares of the company’s stock, valued at approximately $1,025,561.68. This trade represents a 44.13 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 43.60% of the company’s stock.

Hedge Funds Weigh In On Accelerate Diagnostics

An institutional investor recently bought a new position in Accelerate Diagnostics stock. Y Intercept Hong Kong Ltd acquired a new position in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 19,866 shares of the medical research company’s stock, valued at approximately $34,000. Y Intercept Hong Kong Ltd owned about 0.08% of Accelerate Diagnostics at the end of the most recent reporting period. Institutional investors own 17.14% of the company’s stock.

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.