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

Equities research analysts at StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report issued on Thursday. The firm set a “hold” rating on the medical research company’s stock.

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

Accelerate Diagnostics Stock Performance

AXDX opened at $0.60 on Thursday. Accelerate Diagnostics has a one year low of $0.49 and a one year high of $2.09. The company has a market cap of $15.05 million, a price-to-earnings ratio of -0.21 and a beta of 0.46. The business’s fifty day moving average is $1.03 and its two-hundred day moving average is $1.36.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings data on Thursday, March 20th. The medical research company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.13. The business had revenue of $2.82 million during the quarter, compared to analysts’ expectations of $3.00 million. On average, analysts predict that Accelerate Diagnostics will post -2.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Accelerate Diagnostics

A number of institutional investors have recently modified their holdings of the company. Jane Street Group LLC acquired a new stake in Accelerate Diagnostics during the fourth quarter worth approximately $27,000. Y Intercept Hong Kong Ltd acquired a new position in Accelerate Diagnostics in the 3rd quarter valued at $34,000. Renaissance Technologies LLC lifted its stake in shares of Accelerate Diagnostics by 160.6% during the 4th 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 period. Finally, Geode Capital Management LLC boosted its holdings in shares of Accelerate Diagnostics by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock worth $163,000 after purchasing an additional 8,777 shares during 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.