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

Posted by Jessica Moore on Nov 19th, 2024

Accelerate Diagnostics, Inc. (NASDAQ:AXDX – Get Free Report) was the recipient of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 510,500 shares, a growth of 7.9% from the October 15th total of 473,100 shares. Approximately 3.5% of the company’s stock are sold short. Based on an average daily volume of 67,500 shares, the short-interest ratio is currently 7.6 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of Accelerate Diagnostics from a “sell” rating to a “hold” rating in a report on Thursday, November 14th.

Check Out Our Latest Analysis on AXDX

Hedge Funds Weigh In On Accelerate Diagnostics

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

Accelerate Diagnostics Stock Performance

AXDX stock opened at $1.80 on Tuesday. The firm has a 50 day moving average price of $1.78 and a 200-day moving average price of $1.48. Accelerate Diagnostics has a 52-week low of $0.73 and a 52-week high of $5.41. The firm has a market capitalization of $45.07 million, a price-to-earnings ratio of -0.63 and a beta of 0.59.

Accelerate Diagnostics Company Profile

(Get Free Report)

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.