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

StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report sent to investors on Tuesday. The brokerage 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.

Accelerate Diagnostics Stock Down 6.8 %

NASDAQ:AXDX opened at $0.97 on Tuesday. The stock has a fifty day simple moving average of $1.16 and a 200 day simple moving average of $1.44. The firm has a market capitalization of $24.27 million, a price-to-earnings ratio of -0.34 and a beta of 0.55. Accelerate Diagnostics has a 1-year low of $0.73 and a 1-year high of $2.09.

Accelerate Diagnostics (NASDAQ:AXDX) last announced its earnings results 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 firm had revenue of $2.82 million during the quarter, compared to analyst estimates of $3.00 million. Equities analysts predict that Accelerate Diagnostics will post -2.3 earnings per share for the current year.

Hedge Funds Weigh In On Accelerate Diagnostics

Institutional investors and hedge funds have recently bought and sold shares of the business. 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 period. Renaissance Technologies LLC grew its holdings 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 valued at $128,000 after acquiring an additional 65,984 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Accelerate Diagnostics in the fourth quarter worth $27,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Accelerate Diagnostics in the third quarter worth $34,000. Hedge funds and other institutional investors own 17.14% of the company’s stock.

Accelerate Diagnostics Company Profile

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.