Accelerate Diagnostics (NASDAQ:AXDX) Earns Hold Rating from Analysts at StockNews.com

Stock analysts at StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report issued 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

Shares of NASDAQ AXDX opened at $1.08 on Friday. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $2.09. The stock has a market cap of $27.05 million, a PE ratio of -0.38 and a beta of 0.61. The stock has a fifty day moving average of $1.18 and a 200-day moving average of $1.53.

Insider Activity

In other Accelerate Diagnostics news, Director John Patience purchased 200,000 shares of the stock in a transaction on Tuesday, December 3rd. The shares were purchased at an average price of $1.57 per share, with a total value 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. The trade was a 44.13 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 43.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AXDX. Geode Capital Management LLC lifted its position in Accelerate Diagnostics by 6.9% during the fourth 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. Y Intercept Hong Kong Ltd bought a new stake in shares of Accelerate Diagnostics during the 3rd quarter worth $34,000. Jane Street Group LLC bought a new stake in shares of Accelerate Diagnostics during the 4th quarter worth $27,000. Finally, Renaissance Technologies LLC grew its position in Accelerate Diagnostics by 160.6% in the fourth quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock worth $128,000 after acquiring an additional 65,984 shares in the last quarter. 17.14% of the stock is currently owned by institutional investors.

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.