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

StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX – Get Rating) in a research note issued on Wednesday. The firm set a “hold” rating on the medical research company’s stock.

Accelerate Diagnostics Price Performance

Shares of AXDX opened at $0.54 on Wednesday. The stock has a market capitalization of $53.51 million, a price-to-earnings ratio of -0.56 and a beta of 1.12. Accelerate Diagnostics has a 1 year low of $0.45 and a 1 year high of $3.74. The business’s 50 day simple moving average is $0.62 and its 200-day simple moving average is $1.03.

Insider Activity

In other news, CEO Jack Phillips sold 155,635 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $0.47, for a total transaction of $73,148.45. Following the transaction, the chief executive officer now owns 463,823 shares of the company’s stock, valued at approximately $217,996.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Steven Reichling sold 62,778 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $0.47, for a total transaction of $29,505.66. Following the transaction, the chief financial officer now owns 137,640 shares of the company’s stock, valued at approximately $64,690.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jack Phillips sold 155,635 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $0.47, for a total value of $73,148.45. Following the transaction, the chief executive officer now directly owns 463,823 shares in the company, valued at approximately $217,996.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 278,376 shares of company stock valued at $136,140. 42.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Accelerate Diagnostics

Hedge funds have recently bought and sold shares of the business. Destiny Capital Corp CO bought a new position in Accelerate Diagnostics in the 4th quarter valued at $25,000. Virtu Financial LLC grew its position in Accelerate Diagnostics by 95.4% in the 4th quarter. Virtu Financial LLC now owns 35,771 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 17,461 shares during the last quarter. Raymond James & Associates bought a new position in Accelerate Diagnostics in the 3rd quarter valued at $27,000. Bank of Montreal Can bought a new position in Accelerate Diagnostics in the 1st quarter valued at $27,000. Finally, Cubist Systematic Strategies LLC bought a new position in Accelerate Diagnostics in the 3rd quarter valued at $29,000. Institutional investors own 33.14% of the company’s stock.

Accelerate Diagnostics Company Profile

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Accelerate Diagnostics, Inc is an in vitro diagnostics company, which engages in the provision of solutions that improve patient outcomes and lower healthcare costs through the rapid diagnosis of serious infections. It also focuses on developing and commercializing innovative instrumentation for the rapid identification and antibiotic susceptibility testing of infectious pathogens.