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

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

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

Accelerate Diagnostics Stock Performance

Shares of NASDAQ:AXDX opened at $0.86 on Tuesday. The company’s fifty day moving average is $1.15 and its 200-day moving average is $1.43. Accelerate Diagnostics has a 52 week low of $0.73 and a 52 week high of $2.09. The company has a market capitalization of $21.64 million, a PE ratio of -0.30 and a beta of 0.55.

Accelerate Diagnostics (NASDAQ:AXDX) last released 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 firm had revenue of $2.82 million during the quarter, compared to analyst estimates of $3.00 million. On average, analysts forecast that Accelerate Diagnostics will post -2.3 EPS for the current year.

Hedge Funds Weigh In On Accelerate Diagnostics

Several hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC acquired a new stake in shares of Accelerate Diagnostics in the 4th quarter valued at approximately $27,000. Y Intercept Hong Kong Ltd acquired a new stake in Accelerate Diagnostics in the third quarter worth $34,000. Renaissance Technologies LLC boosted its position in shares of Accelerate Diagnostics by 160.6% during 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 in the last quarter. Finally, Geode Capital Management LLC grew its holdings 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 buying an additional 8,777 shares during the period. Institutional investors and hedge funds 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.