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

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

Accelerate Diagnostics Stock Performance

AXDX opened at $1.76 on Friday. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $6.39. The company has a fifty day moving average of $1.69 and a two-hundred day moving average of $1.30. The stock has a market capitalization of $38.81 million, a price-to-earnings ratio of -0.43 and a beta of 0.61.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings data on Thursday, August 8th. The medical research company reported ($0.50) earnings per share for the quarter, beating analysts’ consensus estimates 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. On average, equities research analysts forecast that Accelerate Diagnostics will post -2.14 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.