Accelerate Diagnostics (NASDAQ:AXDX) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) shares crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $1.54 and traded as low as $1.19. Accelerate Diagnostics shares last traded at $1.20, with a volume of 23,536 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. BTIG Research raised shares of Accelerate Diagnostics to a “strong-buy” rating in a report on Wednesday, December 11th. StockNews.com assumed coverage on shares of Accelerate Diagnostics in a report on Thursday. They set a “hold” rating for the company.

Accelerate Diagnostics Stock Performance

The company has a market capitalization of $30.05 million, a price-to-earnings ratio of -0.42 and a beta of 0.61. The company’s fifty day simple moving average is $1.22 and its two-hundred day simple moving average is $1.54.

Insiders Place Their Bets

In other Accelerate Diagnostics news, Director John Patience purchased 200,000 shares of Accelerate Diagnostics stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average cost of $1.57 per share, for a total transaction of $314,000.00. Following the transaction, the director now owns 653,224 shares in the company, valued at $1,025,561.68. This represents a 44.13 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 43.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Accelerate Diagnostics stock. Geode Capital Management LLC boosted its position in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 6.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 135,732 shares of the medical research company’s stock after purchasing an additional 8,777 shares during the quarter. Geode Capital Management LLC owned about 0.54% of Accelerate Diagnostics worth $163,000 at the end of the most recent quarter. 17.14% of the stock is currently owned by hedge funds and other institutional investors.

Accelerate Diagnostics Company Profile

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.