Accelerate Diagnostics (NASDAQ:AXDX) Research Coverage Started at StockNews.com

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

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

Accelerate Diagnostics Stock Performance

Shares of AXDX opened at $1.12 on Monday. The company has a market capitalization of $28.04 million, a price-to-earnings ratio of -0.39 and a beta of 0.59. The stock has a 50 day moving average of $1.35 and a 200 day moving average of $1.54. Accelerate Diagnostics has a 12 month low of $0.73 and a 12 month high of $2.09.

Insider Buying and Selling at Accelerate Diagnostics

In related news, Director John Patience purchased 200,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were purchased at an average cost of $1.57 per share, with a total value of $314,000.00. Following the transaction, the director now directly owns 653,224 shares in the company, valued at $1,025,561.68. This trade represents a 44.13 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 43.60% of the company’s stock.

Hedge Funds Weigh In On Accelerate Diagnostics

A hedge fund recently bought a new stake in Accelerate Diagnostics stock. Y Intercept Hong Kong Ltd bought a new stake in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 19,866 shares of the medical research company’s stock, valued at approximately $34,000. Y Intercept Hong Kong Ltd owned about 0.08% of Accelerate Diagnostics at the end of the most recent quarter. Hedge funds and other institutional investors 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.