Accelerate Diagnostics (NASDAQ:AXDX) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report released on Friday morning. The brokerage issued a hold rating on the medical research company’s stock.

Accelerate Diagnostics Stock Down 2.8 %

AXDX opened at $1.71 on Friday. The company has a market cap of $37.71 million, a PE ratio of -0.42 and a beta of 0.62. Accelerate Diagnostics has a twelve month low of $0.73 and a twelve month high of $7.00. The company has a 50-day moving average price of $1.59 and a 200 day moving average price of $1.25.

Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results 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 firm had revenue of $2.99 million during the quarter, compared to analysts’ expectations of $3.00 million. As a group, sell-side analysts expect that Accelerate Diagnostics will post -2.14 earnings per share for the current year.

Institutional Investors Weigh In On Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. grew its holdings in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,380,654 shares of the medical research company’s stock after purchasing an additional 26,400 shares during the quarter. Griffin Asset Management Inc. owned about 6.26% of Accelerate Diagnostics worth $1,615,000 as of its most recent SEC filing. 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.