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

StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note published on Sunday. The brokerage issued a hold rating on the medical research company’s stock.

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

Accelerate Diagnostics Stock Up 4.7 %

AXDX stock opened at $1.12 on Friday. Accelerate Diagnostics has a 52-week low of $0.73 and a 52-week high of $2.09. The firm has a market cap of $28.05 million, a P/E ratio of -0.39 and a beta of 0.55. The company’s 50-day simple moving average is $1.18 and its 200-day simple moving average is $1.50.

Hedge Funds Weigh In On Accelerate Diagnostics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXDX. Geode Capital Management LLC increased its stake 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 in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Accelerate Diagnostics in the 3rd quarter valued at about $34,000. Jane Street Group LLC acquired a new stake in Accelerate Diagnostics in the 4th quarter worth about $27,000. Finally, Renaissance Technologies LLC increased its stake in 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 buying an additional 65,984 shares in the last quarter. 17.14% of the stock is owned by hedge funds and other institutional investors.

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.