Accelerate Diagnostics (NASDAQ:AXDX) Research Coverage Started at StockNews.com

by · The Cerbat Gem

StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX – Free Report) in a research report released on Friday. The brokerage issued a hold rating on the medical research company’s stock.

Accelerate Diagnostics Stock Performance

NASDAQ:AXDX opened at $0.55 on Friday. The company has a 50-day moving average of $0.93 and a 200-day moving average of $1.30. Accelerate Diagnostics has a 52 week low of $0.49 and a 52 week high of $2.09. The company has a market capitalization of $13.84 million, a price-to-earnings ratio of -0.19 and a beta of 0.46.

Accelerate Diagnostics (NASDAQ:AXDX – Get Free Report) last issued its quarterly earnings data 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. Sell-side analysts forecast that Accelerate Diagnostics will post -2.3 EPS for the current year.

Hedge Funds Weigh In On Accelerate Diagnostics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new position in Accelerate Diagnostics during the fourth quarter worth about $27,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Accelerate Diagnostics during the 3rd quarter worth approximately $34,000. Renaissance Technologies LLC boosted its holdings in shares of Accelerate Diagnostics by 160.6% in the 4th 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 in the last quarter. Finally, Geode Capital Management LLC lifted its holdings 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 worth $163,000 after acquiring an additional 8,777 shares during the last quarter. 17.14% of the stock is owned by institutional investors and hedge funds.

Accelerate Diagnostics Company Profile

(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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