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

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

Separately, BTIG Research upgraded Accelerate Diagnostics to a “strong-buy” rating in a research report on Wednesday, December 11th.

Accelerate Diagnostics Stock Performance

AXDX stock opened at $1.35 on Friday. The company has a market capitalization of $33.81 million, a PE ratio of -0.47 and a beta of 0.59. The company’s fifty day moving average price is $1.56 and its 200-day moving average price is $1.54. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $4.07.

Insider Activity

In other news, Director John Patience purchased 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 owns 653,224 shares of the company’s stock, valued at approximately $1,025,561.68. This trade represents a 44.13 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 acquired a new stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,866 shares of the medical research company’s stock, valued at approximately $34,000. Y Intercept Hong Kong Ltd owned about 0.08% of Accelerate Diagnostics as of its most recent SEC filing. Hedge funds and other institutional investors own 17.14% of the company’s stock.

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.