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

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

Accelerate Diagnostics Stock Performance

NASDAQ AXDX opened at $1.79 on Friday. The company has a market cap of $39.47 million, a PE ratio of -0.44 and a beta of 0.57. The firm’s 50 day moving average price is $1.25 and its 200-day moving average price is $1.11. Accelerate Diagnostics has a 52-week low of $0.73 and a 52-week high of $7.44.

Institutional Investors Weigh In On Accelerate Diagnostics

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. increased its position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,354,254 shares of the medical research company’s stock after acquiring an additional 134,530 shares during the quarter. Griffin Asset Management Inc. owned about 6.25% of Accelerate Diagnostics worth $1,341,000 as of its most recent SEC filing. 17.14% of the stock is 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.