NEW YORK ( TheStreet) -- Shares of Accelr8 Technology Corporation (AMEX: AXK) have taken a tremendous swing upward. The stock is trading at $7.51 as of 10:16 a.m. ET, 20.2% above Wednesday's closing price of $6.25. Volume is at 279,296, 1.5 times the daily average of 180,300. Accelr8 Technology has a market cap of $59.9 million and is part of the health care sector and drugs industry. Shares are up 525% year to date as of the close of trading on Wednesday. Accelr8 Technology Corporation develops materials and instrumentation for applications in medical instrumentation, basic research, drug discovery, and bio-detection in the United States. It manufactures and markets OptiChem surface coatings for use in microarraying components. The company has a P/E ratio of 39.8, above the average drugs industry P/E ratio of 37.1 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Accelr8 Technology as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we find that the stock itself is trading at a premium valuation. You can view the full Accelr8 Technology Ratings Report. See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center. Interested in other stocks that are soaring? Get free SMS text alerts sent to you when the action happens by texting SOAR to 95370 or select from multiple alert options.