Accelerate Diagnostics (NASDAQ:AXDX) Upgraded at BTIG Research

BTIG Research upgraded shares of Accelerate Diagnostics (NASDAQ:AXDX) to a strong-buy rating in a research report sent to investors on Wednesday morning,Zacks.com reports.

Separately, StockNews.com initiated coverage on shares of Accelerate Diagnostics in a research report on Wednesday. They issued a “hold” rating for the company.

Accelerate Diagnostics Price Performance

Shares of Accelerate Diagnostics stock opened at $1.31 on Wednesday. The company’s 50 day moving average price is $1.76 and its two-hundred day moving average price is $1.55. The firm has a market capitalization of $32.80 million, a P/E ratio of -0.46 and a beta of 0.56. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $4.99.

Insider Activity

In other news, Director John Patience bought 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $1.57 per share, for a total transaction of $314,000.00. Following the acquisition, the director now directly owns 653,224 shares in the company, valued at approximately $1,025,561.68. This trade represents a 44.13 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 43.60% of the company’s stock.

Hedge Funds Weigh In On Accelerate Diagnostics

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. grew its position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 6.26% of Accelerate Diagnostics worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 17.14% of the stock is 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.