Accelerate Diagnostics (NASDAQ:AXDX) Coverage Initiated by Analysts at StockNews.com

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

Accelerate Diagnostics Trading Down 1.8 %

Shares of NASDAQ AXDX opened at $0.55 on Friday. The firm has a market cap of $13.84 million, a price-to-earnings ratio of -0.19 and a beta of 0.46. The stock has a fifty day simple moving average of $0.93 and a two-hundred day simple moving average of $1.30. Accelerate Diagnostics has a 1-year low of $0.49 and a 1-year high of $2.09.

Accelerate Diagnostics (NASDAQ:AXDX) last released its 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 the consensus estimate of $3.00 million. Analysts forecast that Accelerate Diagnostics will post -2.3 EPS for the current year.

Hedge Funds Weigh In On Accelerate Diagnostics

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake in Accelerate Diagnostics by 6.9% during the 4th 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 in the last quarter. Renaissance Technologies LLC grew its holdings 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 valued at $128,000 after buying an additional 65,984 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Accelerate Diagnostics during the fourth quarter valued at approximately $27,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Accelerate Diagnostics during the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 17.14% of the company’s stock.

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.