Accelerate Diagnostics (NASDAQ:AXDX) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report issued to clients and investors on Saturday. 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 research report on Wednesday, December 11th.

Accelerate Diagnostics Stock Performance

AXDX stock opened at $1.08 on Friday. The company has a market capitalization of $27.05 million, a PE ratio of -0.38 and a beta of 0.61. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $2.09. The company’s 50 day moving average price is $1.18 and its two-hundred day moving average price is $1.53.

Insider Buying and Selling

In other news, Director John Patience bought 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $1.57 per share, with a total value of $314,000.00. Following the completion of the purchase, the director now directly owns 653,224 shares in the company, valued at $1,025,561.68. This represents a 44.13 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. 43.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Accelerate Diagnostics

Several institutional investors have recently added to or reduced their stakes in AXDX. Y Intercept Hong Kong Ltd purchased a new position in shares of Accelerate Diagnostics in the third quarter valued at about $34,000. Jane Street Group LLC purchased a new stake in shares of Accelerate Diagnostics during the fourth quarter worth about $27,000. Renaissance Technologies LLC grew its stake in shares of Accelerate Diagnostics by 160.6% in the fourth 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 holdings in Accelerate Diagnostics by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock valued at $163,000 after purchasing an additional 8,777 shares during the period. 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.