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

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

Accelerate Diagnostics Stock Up 7.1 %

AXDX stock opened at $1.95 on Friday. The business has a 50 day moving average of $1.63 and a 200 day moving average of $1.26. The firm has a market cap of $43.00 million, a PE ratio of -0.48 and a beta of 0.61. Accelerate Diagnostics has a twelve month low of $0.73 and a twelve month high of $7.00.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.05. The company had revenue of $2.99 million during the quarter, compared to analysts’ expectations of $3.00 million. On average, research analysts expect that Accelerate Diagnostics will post -2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. grew its stake in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,380,654 shares of the medical research company’s stock after acquiring an additional 26,400 shares during the quarter. Griffin Asset Management Inc. owned about 6.26% of Accelerate Diagnostics worth $1,615,000 as of its most recent SEC filing. 17.14% of the stock is currently 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.