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. It also provides the Accelerate PhenoTest, a test kit for the system, which provides identify and antibiotic susceptibility testing results for patients suspected of bacteremia or fungemia, both life-threatening conditions with high morbidity and mortality risk. The company was formerly known as Accelr8 Technology Corporation and changed its name to Accelerate Diagnostics, Inc. in December 2012. Accelerate Diagnostics, Inc. was incorporated in 1982 and is headquartered in Tucson, Arizona.
Accelerate Diagnostics Stock Performance
AXDX Stock traded down $0.93 during mid-day trading on Thursday, reaching $2.49. The company had a trading volume of 2,371,153 shares, compared to its average volume of 712,439. The company has a market capitalization of $173.46 million, a price-to-earnings ratio of -2.68 and a beta of 1.51. The firm has a fifty day simple moving average of $1.43 and a 200 day simple moving average of $1.50. Accelerate Diagnostics has a fifty-two week low of $0.50 and a fifty-two week high of $7.19.
Accelerate Diagnostics (NASDAQ:AXDX - Get Rating) last issued its earnings results on Monday, August 15th. The medical research company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.05. During the same period last year, the business posted ($0.36) EPS.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Craig Hallum decreased their target price on Accelerate Diagnostics to $1.00 and set an "underperform" rating on the stock in a research note on Tuesday, May 17th. StockNews.com lowered Accelerate Diagnostics from a "hold" rating to a "sell" rating in a research report on Saturday, June 4th.
Insider Transactions at Accelerate Diagnostics
In related news, CEO Jack Phillips sold 28,198 shares of the firm's stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $0.91, for a total transaction of $25,660.18. Following the transaction, the chief executive officer now owns 242,035 shares in the company, valued at approximately $220,251.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 42.20% of the company's stock.