Accelerate Diagnostics (NASDAQ:AXDX) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note published on Saturday. The brokerage issued a hold rating on the medical research company’s stock.

Separately, BTIG Research upgraded Accelerate Diagnostics to a “strong-buy” rating in a research report on Wednesday, December 11th.

Accelerate Diagnostics Stock Performance

NASDAQ:AXDX opened at $1.22 on Friday. The company has a fifty day moving average of $1.54 and a two-hundred day moving average of $1.54. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $4.05. The stock has a market capitalization of $30.55 million, a PE ratio of -0.43 and a beta of 0.59.

Insider Activity at Accelerate Diagnostics

In other Accelerate Diagnostics news, Director John Patience purchased 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $1.57 per share, for a total transaction of $314,000.00. Following the purchase, the director now directly owns 653,224 shares in the company, valued at approximately $1,025,561.68. This trade represents a 44.13 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 43.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Accelerate Diagnostics

An institutional investor recently bought a new position in Accelerate Diagnostics stock. Y Intercept Hong Kong Ltd purchased a new stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,866 shares of the medical research company’s stock, valued at approximately $34,000. Y Intercept Hong Kong Ltd owned approximately 0.08% of Accelerate Diagnostics at the end of the most recent reporting period. 17.14% of the stock is owned by hedge funds and other institutional investors.

About Accelerate Diagnostics

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.