Geneva Advisors LLC Has $1.34 Million Position in Accelerate Diagnostics, Inc. (AXDX)
Geneva Advisors LLC raised its position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 48,899 shares of the medical research company’s stock after buying an additional 238 shares during the period. Geneva Advisors LLC owned 0.09% of Accelerate Diagnostics worth $1,337,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the stock. Blair William & Co. IL boosted its stake in Accelerate Diagnostics by 15.1% in the second quarter. Blair William & Co. IL now owns 787,483 shares of the medical research company’s stock worth $21,538,000 after buying an additional 103,276 shares in the last quarter. Stifel Financial Corp acquired a new stake in Accelerate Diagnostics during the first quarter worth $274,000. NGAM Advisors L.P. acquired a new stake in Accelerate Diagnostics during the second quarter worth $3,382,000. FMR LLC acquired a new stake in Accelerate Diagnostics during the first quarter worth $7,260,000. Finally, Essex Investment Management Co. LLC acquired a new stake in Accelerate Diagnostics during the second quarter worth $2,127,000. Institutional investors own 44.40% of the company’s stock.
Shares of Accelerate Diagnostics, Inc. (NASDAQ AXDX) opened at 22.55 on Monday. The firm’s market capitalization is $1.25 billion. The firm has a 50-day moving average price of $25.40 and a 200-day moving average price of $25.80. Accelerate Diagnostics, Inc. has a 1-year low of $19.20 and a 1-year 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 for the quarter, missing the consensus estimate of ($0.30) by $0.01. Accelerate Diagnostics had a negative net margin of 5,062.48% and a negative return on equity of 67.44%. The business had revenue of $0.70 million for the quarter, compared to analyst estimates of $1.40 million. On average, analysts forecast that Accelerate Diagnostics, Inc. will post ($1.20) EPS for the current fiscal year.
AXDX has been the topic of a number of analyst reports. BidaskClub cut Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Zacks Investment Research cut Accelerate Diagnostics from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. BTIG Research restated a “buy” rating and issued a $34.00 price target on shares of Accelerate Diagnostics in a research note on Wednesday, July 12th. Piper Jaffray Companies restated an “overweight” rating and issued a $32.00 price target (up from $30.00) on shares of Accelerate Diagnostics in a research note on Monday, June 5th. Finally, ValuEngine cut 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 given a hold rating and two have given a buy rating to the stock. Accelerate Diagnostics currently has an average rating of “Hold” and an average target price of $33.00.
In other Accelerate Diagnostics news, Director Jack W. Schuler bought 8,200 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average cost of $21.35 per share, for a total transaction of $175,070.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven Reichling sold 30,000 shares of Accelerate Diagnostics stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $28.90, for a total transaction of $867,000.00. Following the sale, the insider now owns 30,700 shares in the company, valued at $887,230. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 161,600 shares of company stock worth $3,461,560. 51.40% of the stock is owned by company insiders.
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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