Accelerate Diagnostics (NASDAQ:AXDX) Rating Increased to Strong-Buy at BTIG Research

Accelerate Diagnostics (NASDAQ:AXDX) was upgraded by investment analysts at BTIG Research to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Separately, StockNews.com initiated coverage on Accelerate Diagnostics in a research note on Wednesday. They issued a “hold” rating on the stock.

Accelerate Diagnostics Trading Up 2.3 %

NASDAQ:AXDX opened at $1.35 on Wednesday. The stock has a market capitalization of $33.81 million, a P/E ratio of -0.47 and a beta of 0.56. Accelerate Diagnostics has a 1 year low of $0.73 and a 1 year high of $4.99. The firm has a 50 day moving average of $1.77 and a 200-day moving average of $1.55.

Insiders Place Their Bets

In other news, Director John Patience acquired 200,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were purchased at an average cost of $1.57 per share, for a total transaction of $314,000.00. Following the transaction, the director now owns 653,224 shares of the company’s stock, valued at approximately $1,025,561.68. This represents a 44.13 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 43.60% of the company’s stock.

Hedge Funds Weigh In On Accelerate Diagnostics

A hedge fund recently bought a new stake in Accelerate Diagnostics stock. Y Intercept Hong Kong Ltd acquired a new position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 19,866 shares of the medical research company’s stock, valued at approximately $34,000. Y Intercept Hong Kong Ltd owned about 0.08% of Accelerate Diagnostics at the end of the most recent quarter. Institutional investors 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.