StockNews.com Begins Coverage on Accelerate Diagnostics (NASDAQ:AXDX)

Analysts at StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report issued on Tuesday. The brokerage set a “hold” rating on the medical research company’s stock.

Separately, BTIG Research raised shares of Accelerate Diagnostics to a “strong-buy” rating in a research note on Wednesday, December 11th.

Accelerate Diagnostics Price Performance

Shares of Accelerate Diagnostics stock opened at $0.88 on Tuesday. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $2.09. The business’s 50 day simple moving average is $1.15 and its two-hundred day simple moving average is $1.43. The stock has a market capitalization of $21.97 million, a P/E ratio of -0.31 and a beta of 0.55.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Thursday, March 20th. The medical research company reported ($0.37) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.50) by $0.13. The firm had revenue of $2.82 million during the quarter, compared to the consensus estimate of $3.00 million. Sell-side analysts expect that Accelerate Diagnostics will post -2.3 earnings per share for the current fiscal year.

Institutional Trading of Accelerate Diagnostics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jane Street Group LLC bought a new position in Accelerate Diagnostics in the 4th quarter worth $27,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Accelerate Diagnostics during the third quarter valued at about $34,000. Renaissance Technologies LLC increased its position in shares of Accelerate Diagnostics by 160.6% during the fourth quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock valued at $128,000 after buying an additional 65,984 shares during the period. Finally, Geode Capital Management LLC raised its stake in Accelerate Diagnostics by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock worth $163,000 after buying an additional 8,777 shares in the last quarter. Hedge funds and other institutional investors own 17.14% of the company’s stock.

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.