Quantbot Technologies LP Buys New Holdings in Accelerate Diagnostics, Inc. (AXDX)
Quantbot Technologies LP bought a new stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,343 shares of the medical research company’s stock, valued at approximately $228,000.
Other institutional investors also recently added to or reduced their stakes in the company. CLS Investments LLC purchased a new stake in Accelerate Diagnostics in the second quarter valued at approximately $137,000. Legal & General Group Plc grew its holdings in Accelerate Diagnostics by 0.3% in the first quarter. Legal & General Group Plc now owns 5,123 shares of the medical research company’s stock valued at $123,000 after purchasing an additional 15 shares during the period. SG Americas Securities LLC grew its holdings in Accelerate Diagnostics by 16.8% in the first quarter. SG Americas Securities LLC now owns 5,885 shares of the medical research company’s stock valued at $142,000 after purchasing an additional 846 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in Accelerate Diagnostics in the second quarter valued at approximately $243,000. Finally, Stifel Financial Corp purchased a new stake in Accelerate Diagnostics in the first quarter valued at approximately $274,000. Hedge funds and other institutional investors own 44.43% of the company’s stock.
A number of equities research analysts recently issued reports on AXDX shares. BidaskClub downgraded shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Zacks Investment Research downgraded shares of Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. BTIG Research reiterated 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 shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Three analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. Accelerate Diagnostics presently has an average rating of “Hold” and a consensus price target of $33.00.
In other news, Director Jack W. Schuler acquired 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average price of $21.45 per share, for a total transaction of $1,072,500.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lawrence Mehren sold 223,215 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $22.40, for a total value of $5,000,016.00. Following the completion of the transaction, the insider now owns 762,381 shares in the company, valued at approximately $17,077,334.40. The disclosure for this sale can be found here. Insiders purchased 161,600 shares of company stock worth $3,461,560 in the last 90 days. 51.40% of the stock is currently owned by corporate insiders.
Shares of Accelerate Diagnostics, Inc. (NASDAQ AXDX) opened at 22.30 on Thursday. The firm’s 50-day moving average is $22.75 and its 200 day moving average is $25.57. The stock’s market capitalization is $1.16 billion. Accelerate Diagnostics, Inc. has a 1-year low of $19.20 and a 1-year high of $30.45.
Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings data on Thursday, August 3rd. The medical research company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $0.70 million during the quarter, compared to analyst estimates of $1.40 million. On average, analysts expect that Accelerate Diagnostics, Inc. will post ($1.20) EPS for the current fiscal year.
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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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