Accelerate Diagnostics (NASDAQ:AXDX) Shares Pass Above 200 Day Moving Average of $1.21

Accelerate Diagnostics, Inc. (NASDAQ:AXDX) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.21 and traded as high as $1.54. Accelerate Diagnostics shares last traded at $1.47, with a volume of 48,383 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Accelerate Diagnostics in a report on Thursday. They issued a “hold” rating on the stock.

Accelerate Diagnostics Trading Up 4.8 %

The firm has a market capitalization of $33.96 million, a price-to-earnings ratio of -0.36 and a beta of 0.62. The stock’s 50-day moving average is $1.52 and its 200-day moving average is $1.22.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.50) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.05. The company had revenue of $2.99 million for the quarter, compared to analyst estimates of $3.00 million. On average, equities research analysts anticipate that Accelerate Diagnostics, Inc. will post -2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. raised its position in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 1,380,654 shares of the medical research company’s stock after purchasing an additional 26,400 shares during the period. Griffin Asset Management Inc. owned 6.26% of Accelerate Diagnostics worth $1,615,000 as of its most recent filing with the SEC. 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.