HighTower Advisors LLC trimmed its holdings in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 49.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,225 shares of the medical research company’s stock after selling 8,000 shares during the period. HighTower Advisors LLC’s holdings in Accelerate Diagnostics were worth $226,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Schwab Charles Investment Management Inc. increased its stake in shares of Accelerate Diagnostics by 7.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 117,236 shares of the medical research company’s stock worth $3,207,000 after purchasing an additional 7,930 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Accelerate Diagnostics by 51.0% during the 1st quarter. Bank of America Corp DE now owns 15,200 shares of the medical research company’s stock worth $368,000 after purchasing an additional 5,132 shares in the last quarter. Oaktop Capital Management II L.P. purchased a new position in shares of Accelerate Diagnostics during the 2nd quarter worth approximately $4,239,000. Marshall Wace North America L.P. purchased a new position in shares of Accelerate Diagnostics during the 2nd quarter worth approximately $1,213,000. Finally, Blair William & Co. IL increased its stake in shares of Accelerate Diagnostics by 15.1% during the 2nd quarter. Blair William & Co. IL now owns 787,483 shares of the medical research company’s stock worth $21,538,000 after purchasing an additional 103,276 shares in the last quarter. 44.37% of the stock is owned by institutional investors and hedge funds.

AXDX has been the subject of a number of recent research reports. BidaskClub raised shares of Accelerate Diagnostics from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. BTIG Research reissued a “buy” rating and set a $34.00 price objective on shares of Accelerate Diagnostics in a research note on Wednesday, July 12th. Zacks Investment Research cut shares of Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, ValuEngine cut 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 given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $33.00.

Shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) opened at 18.95 on Thursday. The company’s 50-day moving average is $21.80 and its 200-day moving average is $25.20. The firm’s market cap is $1.05 billion. Accelerate Diagnostics, Inc. has a 12 month low of $17.80 and a 12 month high of $30.45.

Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results 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 business had revenue of $0.70 million during the quarter, compared to the consensus estimate of $1.40 million. On average, equities research analysts forecast that Accelerate Diagnostics, Inc. will post ($1.20) earnings per share for the current fiscal year.

In other news, Director Jack W. Schuler purchased 45,000 shares of the business’s stock in a transaction dated Wednesday, October 18th. The shares were acquired at an average price of $20.14 per share, for a total transaction of $906,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jack W. Schuler purchased 59,922 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were purchased at an average price of $20.07 per share, for a total transaction of $1,202,634.54. The disclosure for this purchase can be found here. Insiders purchased a total of 655,622 shares of company stock worth $13,251,092 over the last quarter. Insiders own 50.00% of the company’s stock.

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Accelerate Diagnostics 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.

Institutional Ownership by Quarter for Accelerate Diagnostics (NASDAQ:AXDX)

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