Accelerate Diagnostics (NASDAQ:AXDX) Now Covered by Analysts at StockNews.com

Investment analysts at StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report issued to clients and investors on Tuesday. 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 $1.04 on Tuesday. The business has a fifty day moving average of $1.16 and a two-hundred day moving average of $1.44. Accelerate Diagnostics has a 52-week low of $0.73 and a 52-week high of $2.09. The stock has a market cap of $26.05 million, a PE ratio of -0.36 and a beta of 0.55.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings results on Thursday, March 20th. The medical research company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.13. The firm had revenue of $2.82 million during the quarter, compared to analyst estimates of $3.00 million. 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 institutional investors have recently modified their holdings of AXDX. Renaissance Technologies LLC grew its stake in shares of Accelerate Diagnostics by 160.6% during the fourth quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock valued at $128,000 after purchasing an additional 65,984 shares during the last quarter. Jane Street Group LLC acquired a new position in Accelerate Diagnostics during the 4th quarter worth $27,000. Y Intercept Hong Kong Ltd bought a new position in Accelerate Diagnostics in the 3rd quarter valued at $34,000. Finally, Geode Capital Management LLC increased its stake in shares of 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 buying an additional 8,777 shares during the period. 17.14% of the stock is 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.