Traders Purchase High Volume of Call Options on Accelerate Diagnostics (AXDX)

Accelerate Diagnostics Inc (NASDAQ:AXDX) saw unusually large options trading activity on Thursday. Stock investors bought 5,224 call options on the company. This is an increase of 1,659% compared to the average volume of 297 call options.

Several institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in shares of Accelerate Diagnostics by 2.5% in the 2nd quarter. Northern Trust Corp now owns 350,809 shares of the medical research company’s stock valued at $7,823,000 after acquiring an additional 8,608 shares during the period. Intrinsic Edge Capital Management LLC raised its stake in shares of Accelerate Diagnostics by 166.7% in the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 80,000 shares of the medical research company’s stock valued at $1,784,000 after acquiring an additional 50,000 shares during the period. Baird Financial Group Inc. raised its stake in shares of Accelerate Diagnostics by 3.7% in the 2nd quarter. Baird Financial Group Inc. now owns 154,359 shares of the medical research company’s stock valued at $3,442,000 after acquiring an additional 5,477 shares during the period. FMR LLC raised its stake in shares of Accelerate Diagnostics by 97.8% in the 2nd quarter. FMR LLC now owns 486,500 shares of the medical research company’s stock valued at $10,849,000 after acquiring an additional 240,600 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Accelerate Diagnostics by 4.2% in the 2nd quarter. BlackRock Inc. now owns 1,750,891 shares of the medical research company’s stock valued at $39,046,000 after acquiring an additional 70,447 shares during the period. 45.46% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have commented on AXDX shares. BidaskClub downgraded shares of Accelerate Diagnostics from a “hold” rating to a “sell” rating in a research note on Friday, October 5th. Zacks Investment Research raised shares of Accelerate Diagnostics from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $24.00 target price on shares of Accelerate Diagnostics in a research note on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $24.50.

Accelerate Diagnostics stock opened at $16.55 on Friday. The company has a market capitalization of $1.24 billion, a PE ratio of -14.27 and a beta of 2.06. Accelerate Diagnostics has a 1 year low of $16.27 and a 1 year high of $30.35. The company has a current ratio of 27.12, a quick ratio of 25.67 and a debt-to-equity ratio of 1.22.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings results on Monday, August 6th. The medical research company reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.06). The company had revenue of $1.69 million during the quarter, compared to analysts’ expectations of $2.17 million. Accelerate Diagnostics had a negative net margin of 1,405.87% and a negative return on equity of 67.75%. On average, research analysts forecast that Accelerate Diagnostics will post -1.66 EPS for the current year.

About Accelerate Diagnostics

Accelerate Diagnostics, Inc, an in vitro diagnostics company, provides solutions for the diagnosis of serious infections in the United States. It 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, as well as yeast.

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