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

Equities research analysts at StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report issued on Wednesday. The firm set a “hold” rating on the medical research company’s stock.

Separately, BTIG Research upgraded shares of Accelerate Diagnostics to a “strong-buy” rating in a research note on Wednesday, December 11th.

Accelerate Diagnostics Stock Up 0.7 %

NASDAQ AXDX opened at $0.71 on Wednesday. Accelerate Diagnostics has a 12-month low of $0.69 and a 12-month high of $2.09. The firm has a 50-day moving average price of $1.13 and a two-hundred day moving average price of $1.41. The company has a market capitalization of $17.80 million, a P/E ratio of -0.25 and a beta of 0.55.

Accelerate Diagnostics (NASDAQ:AXDX) last released its 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 for the quarter, compared to the consensus estimate of $3.00 million. Equities analysts expect that Accelerate Diagnostics will post -2.3 EPS for the current year.

Institutional Investors Weigh In On Accelerate Diagnostics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. 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 purchasing an additional 8,777 shares during the last quarter. Renaissance Technologies LLC boosted its stake in 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 in the last quarter. Jane Street Group LLC bought a new position in Accelerate Diagnostics in the fourth quarter valued at about $27,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Accelerate Diagnostics during the third quarter worth about $34,000. 17.14% of the stock is currently 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.