Artal Group S.A. Invests $5.47 Million in Accelerate Diagnostics, Inc. (AXDX)
Artal Group S.A. bought a new stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 200,000 shares of the medical research company’s stock, valued at approximately $5,470,000. Artal Group S.A. owned about 0.38% of Accelerate Diagnostics as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Accelerate Diagnostics by 10.3% in the 1st quarter. Vanguard Group Inc. now owns 1,159,421 shares of the medical research company’s stock valued at $28,058,000 after purchasing an additional 107,977 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of Accelerate Diagnostics by 15.1% in the 2nd quarter. Blair William & Co. IL now owns 787,483 shares of the medical research company’s stock valued at $21,538,000 after purchasing an additional 103,276 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Accelerate Diagnostics by 1.3% in the 1st quarter. Nuveen Asset Management LLC now owns 736,997 shares of the medical research company’s stock valued at $17,835,000 after purchasing an additional 9,568 shares during the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of Accelerate Diagnostics by 25.2% in the 1st quarter. Loomis Sayles & Co. L P now owns 679,030 shares of the medical research company’s stock valued at $16,433,000 after purchasing an additional 136,770 shares during the last quarter. Finally, Credit Suisse AG lifted its holdings in shares of Accelerate Diagnostics by 138.4% in the 1st quarter. Credit Suisse AG now owns 413,131 shares of the medical research company’s stock valued at $9,998,000 after purchasing an additional 239,803 shares during the last quarter. 44.43% of the stock is owned by institutional investors and hedge funds.
Accelerate Diagnostics, Inc. (NASDAQ AXDX) traded down 2.31% during mid-day trading on Tuesday, reaching $23.25. The company’s stock had a trading volume of 52,994 shares. The stock’s 50-day moving average is $23.27 and its 200-day moving average is $25.70. The firm’s market capitalization is $1.29 billion. Accelerate Diagnostics, Inc. has a 12 month low of $19.20 and a 12 month high of $30.45.
Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Thursday, August 3rd. The medical research company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.01). Accelerate Diagnostics had a negative return on equity of 67.44% and a negative net margin of 5,062.48%. The business had revenue of $0.70 million during the quarter, compared to the consensus estimate of $1.40 million. On average, equities analysts anticipate that Accelerate Diagnostics, Inc. will post ($1.20) EPS for the current year.
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In other Accelerate Diagnostics news, Director Jack W. Schuler bought 50,000 shares of the business’s stock in a transaction on Monday, August 21st. The shares were purchased at an average price of $21.45 per share, with a total value of $1,072,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack W. Schuler bought 23,400 shares of the business’s stock in a transaction on Monday, August 14th. The stock was acquired at an average cost of $21.35 per share, for a total transaction of $499,590.00. The disclosure for this purchase can be found here. Insiders acquired 161,600 shares of company stock worth $3,461,560 in the last three months. 51.40% of the stock is currently owned by corporate insiders.
AXDX has been the subject of several research reports. Piper Jaffray Companies reissued an “overweight” rating and issued a $32.00 target price (up from $30.00) on shares of Accelerate Diagnostics in a report on Monday, June 5th. BidaskClub raised Accelerate Diagnostics from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Zacks Investment Research downgraded Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. BTIG Research reaffirmed a “buy” rating and set a $34.00 price objective on shares of Accelerate Diagnostics in a research note on Wednesday, July 12th. Finally, ValuEngine downgraded Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $33.00.
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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