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

Stock analysts at StockNews.com initiated coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a note issued to investors on Sunday. 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

Shares of NASDAQ:AXDX opened at $1.12 on Friday. The business’s fifty day moving average price is $1.18 and its two-hundred day moving average price is $1.50. The stock has a market cap of $28.05 million, a PE ratio of -0.39 and a beta of 0.55. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $2.09.

Institutional Trading of Accelerate Diagnostics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new stake in shares of Accelerate Diagnostics during the third quarter worth $34,000. Geode Capital Management LLC boosted 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 worth $163,000 after buying an additional 8,777 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Accelerate Diagnostics by 160.6% in the 4th quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock valued at $128,000 after buying an additional 65,984 shares during the period. Finally, Jane Street Group LLC acquired a new position in shares of Accelerate Diagnostics during the 4th quarter valued at about $27,000. 17.14% of the stock is owned by hedge funds and other institutional investors.

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.