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

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

Accelerate Diagnostics Stock Down 5.6 %

Shares of Accelerate Diagnostics stock opened at $1.42 on Wednesday. Accelerate Diagnostics has a 12-month low of $0.73 and a 12-month high of $4.99. The stock has a market cap of $35.56 million, a P/E ratio of -0.50 and a beta of 0.56. The business’s 50 day moving average is $1.79 and its 200-day moving average is $1.55.

Insider Buying and Selling

In other Accelerate Diagnostics news, Director John Patience purchased 200,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average price of $1.57 per share, for a total transaction of $314,000.00. Following the completion of the acquisition, the director now owns 653,224 shares in the company, valued at approximately $1,025,561.68. This trade represents a 44.13 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 43.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Accelerate Diagnostics

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. grew its stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,380,654 shares of the medical research company’s stock after purchasing an additional 26,400 shares during the quarter. Griffin Asset Management Inc. owned approximately 6.26% of Accelerate Diagnostics worth $1,615,000 at the end of the most recent reporting period. 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.