StockNews.com Begins Coverage on Accelerate Diagnostics (NASDAQ:AXDX)

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

Accelerate Diagnostics Stock Performance

Shares of NASDAQ:AXDX opened at $1.52 on Wednesday. The company has a market cap of $35.99 million, a P/E ratio of -0.37 and a beta of 0.62. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $7.00. The business’s 50-day simple moving average is $1.49 and its 200 day simple moving average is $1.20.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its earnings results on Thursday, August 8th. The medical research company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.05. The company had revenue of $2.99 million for the quarter, compared to analysts’ expectations of $3.00 million. Analysts predict that Accelerate Diagnostics will post -2.14 earnings per share for the current year.

Institutional Investors Weigh In On Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. raised its holdings in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,380,654 shares of the medical research company’s stock after purchasing an additional 26,400 shares during the quarter. Griffin Asset Management Inc. owned 6.26% of Accelerate Diagnostics worth $1,615,000 at the end of the most recent 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.