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

StockNews.com initiated coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report report published on Tuesday. The firm issued a hold rating on the medical research company’s stock.

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

Accelerate Diagnostics Price Performance

Accelerate Diagnostics stock opened at $0.86 on Tuesday. The firm has a 50-day moving average of $1.15 and a 200-day moving average of $1.43. The company has a market cap of $21.64 million, a price-to-earnings ratio of -0.30 and a beta of 0.55. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $2.09.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings data on Thursday, March 20th. The medical research company reported ($0.37) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.50) by $0.13. The business had revenue of $2.82 million during the quarter, compared to the consensus estimate of $3.00 million. As a group, sell-side analysts expect that Accelerate Diagnostics will post -2.3 earnings per share for the current year.

Institutional Investors Weigh In On Accelerate Diagnostics

Large investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new position in Accelerate Diagnostics in the 4th quarter valued at $27,000. Y Intercept Hong Kong Ltd acquired a new position in Accelerate Diagnostics during the third quarter valued at approximately $34,000. Renaissance Technologies LLC lifted its stake 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 worth $128,000 after purchasing an additional 65,984 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 in the last quarter. Institutional investors and hedge funds 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.