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

StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note released on Wednesday morning. The firm issued a sell rating on the medical research company’s stock.

Accelerate Diagnostics Stock Performance

Shares of NASDAQ AXDX opened at $1.83 on Wednesday. The firm has a market cap of $43.33 million, a P/E ratio of -0.83 and a beta of 0.59. Accelerate Diagnostics has a 1 year low of $0.73 and a 1 year high of $6.20. The firm’s 50 day moving average price is $1.77 and its 200 day moving average price is $1.44.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Thursday, November 7th. The medical research company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.12). The firm had revenue of $2.98 million during the quarter, compared to analyst estimates of $3.00 million. As a group, equities analysts predict that Accelerate Diagnostics will post -2.14 EPS for the current year.

Hedge Funds Weigh In On Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. grew its position in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 6.26% of Accelerate Diagnostics worth $1,615,000 as of its most recent SEC filing. 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.