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

StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the medical research company’s stock.

Accelerate Diagnostics Stock Performance

AXDX opened at $0.55 on Friday. The stock has a market cap of $13.84 million, a price-to-earnings ratio of -0.19 and a beta of 0.46. The firm’s fifty day moving average is $0.93 and its 200 day moving average is $1.30. Accelerate Diagnostics has a fifty-two week low of $0.49 and a fifty-two week high of $2.09.

Accelerate Diagnostics (NASDAQ:AXDX) last announced 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 business had revenue of $2.82 million during the quarter, compared to analysts’ expectations of $3.00 million. On average, equities research analysts predict that Accelerate Diagnostics will post -2.3 earnings per share for the current year.

Hedge Funds Weigh In On Accelerate Diagnostics

Several hedge funds have recently modified their holdings of AXDX. Y Intercept Hong Kong Ltd bought a new stake in Accelerate Diagnostics in the 3rd quarter valued at $34,000. Jane Street Group LLC purchased a new position in shares of Accelerate Diagnostics during the fourth quarter valued at about $27,000. Renaissance Technologies LLC increased its holdings 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 lifted its position in shares of Accelerate Diagnostics by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock worth $163,000 after buying an additional 8,777 shares in the last quarter. 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.