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

StockNews.com initiated coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note released on Friday. The firm 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 report on Wednesday, December 11th.

Accelerate Diagnostics Trading Up 5.9 %

Accelerate Diagnostics stock opened at $1.18 on Friday. The company has a market capitalization of $29.43 million, a P/E ratio of -0.41 and a beta of 0.61. The firm’s fifty day simple moving average is $1.19 and its 200-day simple moving average is $1.54. Accelerate Diagnostics has a 1-year low of $0.73 and a 1-year high of $2.09.

Insiders Place Their Bets

In related news, Director John Patience bought 200,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was bought at an average cost of $1.57 per share, with a total value of $314,000.00. Following the completion of the purchase, the director now owns 653,224 shares in the company, valued at approximately $1,025,561.68. The trade was a 44.13 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 43.60% of the company’s stock.

Institutional Investors Weigh In On Accelerate Diagnostics

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in Accelerate Diagnostics by 6.9% during the fourth 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 during the period. Renaissance Technologies LLC grew its holdings in Accelerate Diagnostics by 160.6% during the fourth quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock valued at $128,000 after purchasing an additional 65,984 shares during the period. Jane Street Group LLC acquired a new position in Accelerate Diagnostics during the fourth quarter valued at approximately $27,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in Accelerate Diagnostics during the third quarter valued at approximately $34,000. 17.14% of the stock is owned by institutional investors.

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.