StockNews.com Initiates Coverage on Accelerate Diagnostics (NASDAQ:AXDX)

StockNews.com began 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 Trading Up 0.4 %

Shares of AXDX opened at $1.69 on Friday. The business’s 50 day moving average is $1.30 and its 200 day moving average is $1.13. The company has a market capitalization of $37.21 million, a PE ratio of -0.41 and a beta of 0.57. Accelerate Diagnostics has a 12-month low of $0.73 and a 12-month high of $7.25.

Hedge Funds Weigh In On Accelerate Diagnostics

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. raised its position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,354,254 shares of the medical research company’s stock after buying 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. Institutional investors and hedge funds 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.