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

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

Accelerate Diagnostics Trading Up 7.2%

Shares of Accelerate Diagnostics stock opened at $0.15 on Monday. The company has a fifty day moving average price of $0.73 and a 200 day moving average price of $1.16. The stock has a market cap of $3.73 million, a price-to-earnings ratio of -0.05 and a beta of 0.22. Accelerate Diagnostics has a twelve month low of $0.12 and a twelve month high of $2.09.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Thursday, March 20th. The medical research company reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.13. The company had revenue of $2.82 million during the quarter, compared to analyst estimates of $3.00 million. Analysts forecast that Accelerate Diagnostics will post -2.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of 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 valued at $163,000 after acquiring an additional 8,777 shares during the period. Renaissance Technologies LLC boosted its stake in Accelerate Diagnostics by 160.6% in 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, Jane Street Group LLC purchased a new stake in Accelerate Diagnostics in the 4th quarter worth approximately $27,000. Institutional investors 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.