Accelerate Diagnostics Inc. [AXDX] stock Downgrade by Craig Hallum analyst, price target now $5

Accelerate Diagnostics Inc. [NASDAQ: AXDX] loss -27.19% on the last trading session, reaching $2.49 price per share at the time. The company report on August 18, 2022 that Accelerate Diagnostics Announces Pricing of Public Offering of Common Stock.


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Accelerate Diagnostics, Inc. (Nasdaq: AXDX) (“Accelerate Diagnostics”) today announced the pricing of an underwritten public offering of 17,500,000 shares of its common stock at a price to the public of $2.00 per share. The gross proceeds to Accelerate Diagnostics from the offering, before deducting the underwriting discounts and commissions and estimated offering expenses, are expected to be $35.0 million. In addition, Accelerate Diagnostics has granted the underwriters a 30-day option to purchase up to an additional 2,625,000 shares of its common stock at the public offering price, less the underwriting discounts and commissions. Accelerate Diagnostics anticipates using the net proceeds from the offering for general corporate purposes and to fund commercialization efforts. All of the shares are being offered by Accelerate Diagnostics, and the offering is expected to close on or about August 23, 2022, subject to customary closing conditions.

William Blair & Company, L.L.C. is acting as lead book-running manager for the offering. Oppenheimer & Co. Inc. is acting as a book-running manager and Craig-Hallum Capital Group LLC is acting as co-manager for the offering.

Accelerate Diagnostics Inc. represents 67.75 million in outstanding shares, while the company has a total market value of $200.62 million with the latest information. AXDX stock price has been found in the range of $2.41 to $2.9567.

If compared to the average trading volume of 1.10M shares, AXDX reached a trading volume of 2370919 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Accelerate Diagnostics Inc. [AXDX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AXDX shares is $1.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AXDX stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Craig Hallum have made an estimate for Accelerate Diagnostics Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 09, 2022. While these analysts kept the previous recommendation, BTIG Research raised their target price to Neutral. The new note on the price target was released on October 08, 2020, representing the official price target for Accelerate Diagnostics Inc. stock. Previously, the target price had yet another raise to $20, while Craig Hallum analysts kept a Buy rating on AXDX stock.

The Average True Range (ATR) for Accelerate Diagnostics Inc. is set at 0.38, with the Price to Sales ratio for AXDX stock in the period of the last 12 months amounting to 16.44.

Trading performance analysis for AXDX stock

Accelerate Diagnostics Inc. [AXDX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.81. With this latest performance, AXDX shares gained by 76.60% in over the last four-week period, additionally sinking by -6.74% over the last 6 months – not to mention a drop of -58.77% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AXDX stock in for the last two-week period is set at 59.37, with the RSI for the last a single of trading hit 56.43, and the three-weeks RSI is set at 60.44 for Accelerate Diagnostics Inc. [AXDX]. The present Moving Average for the last 50 days of trading for this stock 1.41, while it was recorded at 2.78 for the last single week of trading, and 2.55 for the last 200 days.

Accelerate Diagnostics Inc. [AXDX]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Accelerate Diagnostics Inc. [AXDX] shares currently have an operating margin of -607.37 and a Gross Margin at -3.23. Accelerate Diagnostics Inc.’s Net Margin is presently recorded at -659.50.

Accelerate Diagnostics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.80 and a Current Ratio set at 7.40.

Accelerate Diagnostics Inc. [AXDX]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AXDX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Accelerate Diagnostics Inc. go to 30.00%.

An analysis of insider ownership at Accelerate Diagnostics Inc. [AXDX]

There are presently around $47 million, or 29.00% of AXDX stock, in the hands of institutional investors. The top three institutional holders of AXDX stocks are: GRIFFIN ASSET MANAGEMENT, INC. with ownership of 3,982,264, which is approximately 165.229% of the company’s market cap and around 0.90% of the total institutional ownership; ORACLE INVESTMENT MANAGEMENT INC, holding 2,445,791 shares of the stock with an approximate value of $6.09 million in AXDX stocks shares; and VANGUARD GROUP INC, currently with $5.74 million in AXDX stock with ownership of nearly 74.589% of the company’s market capitalization.

Positions in Accelerate Diagnostics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 25 institutional holders increased their position in Accelerate Diagnostics Inc. [NASDAQ:AXDX] by around 5,955,157 shares. Additionally, 63 investors decreased positions by around 9,648,622 shares, while 29 investors held positions by with 3,363,450 shares. The mentioned changes placed institutional holdings at 18,967,229 shares, according to the latest SEC report filing. AXDX stock had 12 new institutional investments in for a total of 650,490 shares, while 39 institutional investors sold positions of 2,758,173 shares during the same period.

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