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

StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report report published on Monday. The firm issued a hold rating on the medical research company’s stock.

Accelerate Diagnostics Stock Performance

Shares of AXDX stock opened at $1.77 on Monday. The company has a market cap of $39.03 million, a P/E ratio of -0.43 and a beta of 0.61. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $6.39. The stock has a 50 day simple moving average of $1.75 and a two-hundred day simple moving average of $1.35.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings data on Thursday, August 8th. The medical research company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.05. The company had revenue of $2.99 million during the quarter, compared to the consensus estimate of $3.00 million. On average, research analysts predict that Accelerate Diagnostics will post -2.14 earnings per share for the current year.

Hedge Funds Weigh In On Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. increased its position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,354,254 shares of the medical research company’s stock after buying an additional 134,530 shares during the quarter. Griffin Asset Management Inc. owned about 6.25% of Accelerate Diagnostics worth $1,341,000 at the end of the most recent quarter. 17.14% of the stock is currently owned by hedge funds and other institutional investors.

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.