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

Investment analysts at StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report issued 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 report on Wednesday, December 11th.

Accelerate Diagnostics Price Performance

Shares of NASDAQ AXDX opened at $1.04 on Tuesday. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $2.09. The firm has a market capitalization of $26.05 million, a P/E ratio of -0.36 and a beta of 0.55. The company’s 50 day simple moving average is $1.16 and its 200 day simple moving average is $1.44.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings results on Thursday, March 20th. The medical research company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.13. The company had revenue of $2.82 million during the quarter, compared to analyst estimates of $3.00 million. Sell-side analysts expect that Accelerate Diagnostics will post -2.3 EPS for the current fiscal year.

Institutional Investors Weigh In On Accelerate Diagnostics

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its position 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 purchasing an additional 8,777 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Accelerate Diagnostics by 160.6% in the fourth 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. Jane Street Group LLC bought a new stake in shares of Accelerate Diagnostics during the fourth quarter worth $27,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Accelerate Diagnostics during the third quarter worth $34,000. Institutional investors and hedge funds own 17.14% of the company’s stock.

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.