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

Equities researchers at StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report issued on Thursday. The firm set a “hold” rating on the medical research company’s stock.

Separately, BTIG Research raised shares of Accelerate Diagnostics to a “strong-buy” rating in a report on Wednesday, December 11th.

Accelerate Diagnostics Stock Down 3.4 %

AXDX stock opened at $0.56 on Thursday. The stock has a 50-day simple moving average of $1.00 and a two-hundred day simple moving average of $1.35. Accelerate Diagnostics has a twelve month low of $0.49 and a twelve month high of $2.09. The firm has a market capitalization of $14.12 million, a PE ratio of -0.20 and a beta of 0.46.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings data on Thursday, March 20th. The medical research company reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.13. The firm had revenue of $2.82 million for the quarter, compared to analysts’ expectations of $3.00 million. On average, equities research analysts anticipate that Accelerate Diagnostics will post -2.3 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Y Intercept Hong Kong Ltd purchased a new stake in Accelerate Diagnostics in the third quarter valued at approximately $34,000. Jane Street Group LLC bought a new position in shares of Accelerate Diagnostics in the 4th quarter worth $27,000. Renaissance Technologies LLC raised its position 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 buying an additional 65,984 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 worth $163,000 after acquiring an additional 8,777 shares during the last quarter. Hedge funds and other 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.