StockNews.com Begins Coverage on Accelerate Diagnostics (NASDAQ:AXDX)

Analysts at StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note issued on Saturday. 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 Stock Performance

Shares of AXDX stock opened at $1.08 on Friday. Accelerate Diagnostics has a 1-year low of $0.73 and a 1-year high of $2.09. The company has a market capitalization of $27.05 million, a price-to-earnings ratio of -0.38 and a beta of 0.61. The stock’s fifty day simple moving average is $1.18 and its 200-day simple moving average is $1.52.

Insider Activity at Accelerate Diagnostics

In other news, Director John Patience acquired 200,000 shares of Accelerate Diagnostics stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $1.57 per share, with a total value of $314,000.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 43.60% of the company’s stock.

Institutional Trading of Accelerate Diagnostics

A number of institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Accelerate Diagnostics by 6.9% during the fourth 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 position in Accelerate Diagnostics by 160.6% during the fourth quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock valued at $128,000 after purchasing an additional 65,984 shares during the last quarter. Jane Street Group LLC acquired a new stake in Accelerate Diagnostics during the fourth quarter valued at $27,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Accelerate Diagnostics in the third quarter worth about $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.