Accelerate Diagnostics (NASDAQ:AXDX) Now Covered by StockNews.com

by · The Cerbat Gem

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

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

Read Our Latest Report on Accelerate Diagnostics

Accelerate Diagnostics Stock Down 6.5 %

Shares of AXDX opened at $0.65 on Wednesday. The stock has a market cap of $16.39 million, a PE ratio of -0.23 and a beta of 0.55. Accelerate Diagnostics has a 12-month low of $0.63 and a 12-month high of $2.09. The business has a 50-day simple moving average of $1.10 and a two-hundred day simple moving average of $1.39.

Accelerate Diagnostics (NASDAQ:AXDX – Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The medical research company reported ($0.37) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.13. The firm had revenue of $2.82 million for the quarter, compared to the consensus estimate of $3.00 million. On average, equities research analysts expect that Accelerate Diagnostics will post -2.3 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its stake in shares of Accelerate Diagnostics by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock valued at $163,000 after buying an additional 8,777 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Accelerate Diagnostics by 160.6% in the fourth quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock worth $128,000 after acquiring an additional 65,984 shares during the period. Jane Street Group LLC bought a new stake in Accelerate Diagnostics in the fourth quarter valued at approximately $27,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Accelerate Diagnostics during the 3rd quarter valued at approximately $34,000. 17.14% of the stock is owned by institutional investors and hedge funds.

About Accelerate Diagnostics

(Get Free Report)

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.

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