Accelerate Diagnostics (NASDAQ:AXDX) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report released on Wednesday. The brokerage issued 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 Stock Performance

Shares of AXDX opened at $0.70 on Wednesday. Accelerate Diagnostics has a fifty-two week low of $0.69 and a fifty-two week high of $2.09. The firm has a 50-day simple moving average of $1.12 and a 200-day simple moving average of $1.40. The company has a market capitalization of $17.65 million, a price-to-earnings ratio of -0.24 and a beta of 0.55.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Thursday, March 20th. The medical research company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.13. The company had revenue of $2.82 million for the quarter, compared to analyst estimates of $3.00 million. Equities research analysts forecast that Accelerate Diagnostics will post -2.3 EPS for the current year.

Institutional Investors Weigh In On Accelerate Diagnostics

A number of hedge funds have recently added to or reduced their stakes in AXDX. Geode Capital Management LLC raised its stake in shares of Accelerate Diagnostics by 6.9% during the 4th 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. Y Intercept Hong Kong Ltd purchased a new position in Accelerate Diagnostics in the third quarter worth $34,000. Jane Street Group LLC purchased a new position in Accelerate Diagnostics in the fourth quarter worth $27,000. Finally, Renaissance Technologies LLC lifted its holdings in Accelerate Diagnostics by 160.6% in the fourth quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock valued at $128,000 after acquiring an additional 65,984 shares during the period. Institutional investors and hedge funds 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.