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

Stock analysts at StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note issued on Wednesday. The firm set a “hold” rating on the medical research company’s stock.

Accelerate Diagnostics Stock Down 5.6 %

Accelerate Diagnostics stock opened at $1.42 on Wednesday. The stock has a 50-day simple moving average of $1.79 and a 200 day simple moving average of $1.55. The stock has a market capitalization of $35.56 million, a price-to-earnings ratio of -0.50 and a beta of 0.56. Accelerate Diagnostics has a 12-month low of $0.73 and a 12-month high of $4.99.

Insider Transactions at Accelerate Diagnostics

In other news, Director John Patience purchased 200,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $1.57 per share, with a total value of $314,000.00. Following the acquisition, the director now directly owns 653,224 shares of the company’s stock, valued at approximately $1,025,561.68. This represents a 44.13 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 43.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Accelerate Diagnostics

A hedge fund recently bought a new stake in Accelerate Diagnostics stock. Y Intercept Hong Kong Ltd acquired a new position in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 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 as of its most recent SEC filing. Institutional investors own 17.14% of the company’s stock.

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.