Accelerate Diagnostics, Inc. (NASDAQ:AXDX) Sees Significant Increase in Short Interest

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 510,500 shares, an increase of 7.9% from the October 15th total of 473,100 shares. Based on an average daily volume of 67,500 shares, the days-to-cover ratio is currently 7.6 days. Currently, 3.5% of the shares of the stock are sold short.

Accelerate Diagnostics Stock Down 1.1 %

Shares of AXDX stock opened at $1.85 on Monday. Accelerate Diagnostics has a 12 month low of $0.73 and a 12 month high of $5.78. The firm has a market cap of $46.32 million, a price-to-earnings ratio of -0.65 and a beta of 0.59. The stock has a 50-day moving average price of $1.78 and a 200 day moving average price of $1.48.

Institutional Trading of Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. increased its position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,380,654 shares of the medical research company’s stock after acquiring an additional 26,400 shares during the quarter. Griffin Asset Management Inc. owned about 6.26% of Accelerate Diagnostics worth $1,615,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 17.14% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research report on Thursday.

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. 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.