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

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

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

Accelerate Diagnostics Price Performance

AXDX stock opened at $1.19 on Thursday. Accelerate Diagnostics has a 52-week low of $0.73 and a 52-week high of $2.09. The company has a 50-day moving average of $1.22 and a two-hundred day moving average of $1.54. The stock has a market capitalization of $29.80 million, a price-to-earnings ratio of -0.42 and a beta of 0.61.

Insider Activity

In other Accelerate Diagnostics news, Director John Patience purchased 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was purchased at an average price of $1.57 per share, with a total value of $314,000.00. Following the completion of the transaction, the director now directly owns 653,224 shares of the company’s stock, valued at approximately $1,025,561.68. This trade represents a 44.13 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 43.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd acquired a new position in Accelerate Diagnostics in the third quarter worth about $34,000. Renaissance Technologies LLC raised its position in Accelerate Diagnostics by 160.6% in 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 raised its position in Accelerate Diagnostics by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock worth $163,000 after purchasing an additional 8,777 shares in the last quarter. 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.