Accelerate Diagnostics (NASDAQ:AXDX) Posts Earnings Results

Accelerate Diagnostics (NASDAQ:AXDX) announced its earnings results on Thursday. The medical research company reported ($0.59) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.12), reports. The business had revenue of $2.98 million for the quarter, compared to analysts’ expectations of $3.00 million.

Accelerate Diagnostics Stock Performance

Accelerate Diagnostics stock opened at $1.83 on Friday. Accelerate Diagnostics has a 52 week low of $0.73 and a 52 week high of $6.20. The stock has a market capitalization of $43.33 million, a P/E ratio of -0.64 and a beta of 0.59. The stock has a fifty day moving average of $1.77 and a 200-day moving average of $1.43.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of Accelerate Diagnostics in a research report on Wednesday. They set a “sell” rating on the stock.

Institutional Trading of Accelerate Diagnostics

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