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

StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report report published on Tuesday. 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 report on Wednesday, December 11th.

Accelerate Diagnostics Stock Performance

NASDAQ AXDX opened at $0.97 on Tuesday. The firm has a market capitalization of $24.27 million, a PE ratio of -0.34 and a beta of 0.55. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $2.09. The company has a 50-day simple moving average of $1.16 and a 200-day simple moving average of $1.44.

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

Institutional Investors Weigh In On Accelerate Diagnostics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position 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 acquired a new position in shares of Accelerate Diagnostics during the third quarter valued at approximately $34,000. Jane Street Group LLC acquired a new stake in Accelerate Diagnostics in the fourth quarter worth approximately $27,000. Finally, Renaissance Technologies LLC boosted its stake in Accelerate Diagnostics by 160.6% during the 4th quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock valued at $128,000 after purchasing an additional 65,984 shares in the last quarter. 17.14% of the stock is currently owned by 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.