Accelerate Diagnostics (NASDAQ:AXDX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report published on Wednesday. The brokerage issued 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 Price Performance

Shares of NASDAQ AXDX opened at $0.65 on Wednesday. The stock has a market capitalization of $16.39 million, a PE ratio of -0.23 and a beta of 0.55. Accelerate Diagnostics has a fifty-two week low of $0.63 and a fifty-two week high of $2.09. The business has a fifty day moving average price of $1.10 and a two-hundred day moving average price of $1.39.

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

Hedge Funds Weigh In On Accelerate Diagnostics

A number of institutional investors have recently modified their holdings of the business. Y Intercept Hong Kong Ltd acquired a new stake in Accelerate Diagnostics in the third quarter valued at about $34,000. Jane Street Group LLC bought a new position in shares of Accelerate Diagnostics in the fourth quarter worth about $27,000. Renaissance Technologies LLC lifted 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 acquiring an additional 65,984 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Accelerate Diagnostics by 6.9% in 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 in the last quarter. Institutional investors and hedge funds 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.