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

Investment analysts at StockNews.com initiated coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report released on Friday. 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 AXDX opened at $1.10 on Friday. Accelerate Diagnostics has a 1 year low of $0.73 and a 1 year high of $4.28. The stock has a 50 day simple moving average of $1.62 and a two-hundred day simple moving average of $1.54. The firm has a market cap of $27.55 million, a P/E ratio of -0.38 and a beta of 0.56.

Insider Activity

In related news, Director John Patience acquired 200,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was purchased at an average price of $1.57 per share, with a total value of $314,000.00. Following the completion of the purchase, the director now owns 653,224 shares in the company, valued at $1,025,561.68. This trade represents a 44.13 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 43.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Accelerate Diagnostics

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

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.