Accelerate Diagnostics (NASDAQ:AXDX) Research Coverage Started at StockNews.com

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

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

Accelerate Diagnostics Stock Down 3.4 %

AXDX opened at $0.56 on Thursday. The stock has a market cap of $14.12 million, a price-to-earnings ratio of -0.20 and a beta of 0.46. Accelerate Diagnostics has a 12-month low of $0.49 and a 12-month high of $2.09. The business has a 50 day moving average of $1.00 and a 200-day moving average of $1.35.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings data on Thursday, March 20th. The medical research company reported ($0.37) EPS for the quarter, topping the consensus estimate 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. As a group, analysts expect that Accelerate Diagnostics will post -2.3 earnings per share for the current year.

Institutional Investors Weigh In On Accelerate Diagnostics

A number of hedge funds have recently modified their holdings of the stock. Jane Street Group LLC bought a new stake in shares of Accelerate Diagnostics in the fourth quarter valued at $27,000. Y Intercept Hong Kong Ltd purchased a new stake in Accelerate Diagnostics in the 3rd quarter worth about $34,000. Renaissance Technologies LLC increased its holdings in Accelerate Diagnostics by 160.6% in the 4th quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock worth $128,000 after acquiring an additional 65,984 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Accelerate Diagnostics by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock valued at $163,000 after acquiring an additional 8,777 shares during the period. 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.