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

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

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

Accelerate Diagnostics Stock Performance

Shares of AXDX opened at $1.20 on Thursday. Accelerate Diagnostics has a 52-week low of $0.73 and a 52-week high of $2.09. The stock has a market capitalization of $30.05 million, a price-to-earnings ratio of -0.42 and a beta of 0.61. The stock’s 50-day simple moving average is $1.22 and its 200 day simple moving average is $1.54.

Insider Transactions at Accelerate Diagnostics

In other news, Director John Patience purchased 200,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was acquired at an average price of $1.57 per share, with a total value of $314,000.00. Following the transaction, 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 position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 43.60% of the company’s stock.

Institutional Trading of Accelerate Diagnostics

An institutional investor recently raised its position in Accelerate Diagnostics stock. Geode Capital Management LLC boosted its stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 135,732 shares of the medical research company’s stock after buying an additional 8,777 shares during the period. Geode Capital Management LLC owned 0.54% of Accelerate Diagnostics worth $163,000 at the end of the most recent reporting period. 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.