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

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

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

Accelerate Diagnostics Price Performance

Shares of NASDAQ AXDX opened at $1.20 on Friday. The stock’s fifty day moving average price is $1.48 and its two-hundred day moving average price is $1.54. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $4.05. The firm has a market cap of $30.05 million, a price-to-earnings ratio of -0.42 and a beta of 0.59.

Insider Activity

In other Accelerate Diagnostics news, Director John Patience bought 200,000 shares of Accelerate Diagnostics stock in a transaction that occurred on Tuesday, December 3rd. The stock was acquired at an average cost of $1.57 per share, for a total transaction of $314,000.00. Following the completion of the transaction, the director now directly owns 653,224 shares in the company, valued at $1,025,561.68. This represents a 44.13 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 43.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Accelerate Diagnostics

An institutional investor recently bought a new position in Accelerate Diagnostics stock. Y Intercept Hong Kong Ltd bought a new stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 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 at the end of the most recent quarter. 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.