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

Equities research analysts at StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report issued on Friday. The firm set 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 report on Wednesday, December 11th.

Accelerate Diagnostics Trading Up 5.9 %

NASDAQ:AXDX opened at $1.18 on Friday. The firm has a market capitalization of $29.43 million, a price-to-earnings ratio of -0.41 and a beta of 0.61. The firm’s fifty day simple moving average is $1.19 and its 200 day simple moving average is $1.54. Accelerate Diagnostics has a twelve month low of $0.73 and a twelve month high of $2.09.

Insiders Place Their Bets

In other news, Director John Patience acquired 200,000 shares of the business’s stock in a transaction on Tuesday, December 3rd. The shares were purchased at an average price of $1.57 per share, for a total transaction of $314,000.00. Following the acquisition, the director now directly owns 653,224 shares of the company’s stock, valued at $1,025,561.68. This represents a 44.13 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 43.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Accelerate Diagnostics

Institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in Accelerate Diagnostics in the 4th quarter worth $27,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Accelerate Diagnostics in the 3rd quarter worth about $34,000. Renaissance Technologies LLC increased its position in shares of 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 last quarter. Finally, Geode Capital Management LLC increased its position in shares of Accelerate Diagnostics by 6.9% in the 4th 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.

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.