StockNews.com Initiates Coverage on Accelerate Diagnostics (NASDAQ:AXDX)

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

Accelerate Diagnostics Trading Up 8.3 %

NASDAQ:AXDX opened at $1.70 on Tuesday. The stock has a market capitalization of $42.57 million, a price-to-earnings ratio of -0.62 and a beta of 0.56. The firm has a fifty day simple moving average of $1.81 and a two-hundred day simple moving average of $1.54. Accelerate Diagnostics has a 12 month low of $0.73 and a 12 month high of $5.23.

Insiders Place Their Bets

In other Accelerate Diagnostics news, Director John Patience acquired 200,000 shares of Accelerate Diagnostics stock in a transaction dated Tuesday, December 3rd. The stock was purchased at an average cost of $1.57 per share, for a total transaction of $314,000.00. Following the completion of the acquisition, the director now directly owns 653,224 shares of the company’s stock, valued at $1,025,561.68. This represents a 44.13 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 43.60% of the company’s stock.

Institutional Inflows and Outflows

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

Accelerate Diagnostics Company Profile

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.