Accelerate Diagnostics Sees Unusually Large Options Volume (NASDAQ:AXDX)

Accelerate Diagnostics Inc (NASDAQ:AXDX) was the recipient of unusually large options trading on Thursday. Stock investors acquired 5,691 call options on the company. This represents an increase of 3,010% compared to the typical volume of 183 call options.

A number of institutional investors have recently modified their holdings of AXDX. Tower Research Capital LLC TRC purchased a new position in shares of Accelerate Diagnostics in the 2nd quarter worth approximately $27,000. HighTower Advisors LLC grew its stake in Accelerate Diagnostics by 28.5% during the 2nd quarter. HighTower Advisors LLC now owns 12,687 shares of the medical research company’s stock worth $289,000 after buying an additional 2,815 shares during the last quarter. Marshall Wace LLP bought a new position in Accelerate Diagnostics during the 1st quarter worth $318,000. PVG Asset Management Corp bought a new position in Accelerate Diagnostics during the 3rd quarter worth $366,000. Finally, SeaCrest Wealth Management LLC grew its stake in Accelerate Diagnostics by 12.4% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 31,117 shares of the medical research company’s stock worth $578,000 after buying an additional 3,435 shares during the last quarter. Institutional investors own 53.83% of the company’s stock.

Accelerate Diagnostics stock opened at $18.02 on Friday. The firm has a 50 day simple moving average of $16.75 and a 200 day simple moving average of $17.99. The firm has a market capitalization of $984.43 million, a price-to-earnings ratio of -11.12 and a beta of 2.72. The company has a current ratio of 21.93, a quick ratio of 20.65 and a debt-to-equity ratio of 12.81. Accelerate Diagnostics has a 1-year low of $14.27 and a 1-year high of $24.00.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its earnings results on Thursday, November 7th. The medical research company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.01. The company had revenue of $2.27 million during the quarter, compared to analyst estimates of $3.15 million. Accelerate Diagnostics had a negative net margin of 1,116.69% and a negative return on equity of 249.46%. On average, equities research analysts forecast that Accelerate Diagnostics will post -1.58 EPS for the current year.

AXDX has been the subject of several research reports. Piper Sandler raised their target price on Accelerate Diagnostics from to and gave the company an “overweight” rating in a research note on Tuesday. BidaskClub upgraded Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research note on Friday. ValuEngine upgraded Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday, January 7th. JPMorgan Chase & Co. downgraded Accelerate Diagnostics from a “neutral” rating to an “underweight” rating and set a $16.00 target price for the company. in a research note on Friday, September 27th. Finally, Zacks Investment Research downgraded Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Accelerate Diagnostics presently has a consensus rating of “Hold” and a consensus target price of $19.00.

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. It 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, as well as yeast.

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