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

Analysts at StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a note issued to investors on Wednesday. The firm 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 Stock Performance

Accelerate Diagnostics stock opened at $0.71 on Wednesday. The business’s fifty day moving average is $1.13 and its two-hundred day moving average is $1.41. The firm has a market cap of $17.80 million, a P/E ratio of -0.25 and a beta of 0.55. Accelerate Diagnostics has a 52 week low of $0.69 and a 52 week high of $2.09.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings data on Thursday, March 20th. The medical research company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.13. The business had revenue of $2.82 million for the quarter, compared to analyst estimates of $3.00 million. On average, equities research analysts predict that Accelerate Diagnostics will post -2.3 earnings per share for the current year.

Hedge Funds Weigh In On Accelerate Diagnostics

A number of large investors have recently modified their holdings of the business. Y Intercept Hong Kong Ltd bought a new position in Accelerate Diagnostics in the third quarter valued at approximately $34,000. Geode Capital Management LLC lifted its stake in Accelerate Diagnostics by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock valued at $163,000 after purchasing an additional 8,777 shares during the last quarter. Renaissance Technologies LLC increased its position in Accelerate Diagnostics by 160.6% during the fourth quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock worth $128,000 after buying an additional 65,984 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in Accelerate Diagnostics in the fourth quarter valued at approximately $27,000. 17.14% of the stock is currently owned by institutional investors and hedge funds.

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.