Accelerate Diagnostics (NASDAQ:AXDX) Releases Earnings Results, Misses Expectations By $0.12 EPS

Posted by Jared Coughlin on Nov 10th, 2024

Accelerate Diagnostics (NASDAQ:AXDX – Get Free Report) released its quarterly earnings data on Thursday. The medical research company reported ($0.59) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.47) by ($0.12), reports. The company had revenue of $2.98 million for the quarter, compared to analysts’ expectations of $3.00 million.

Accelerate Diagnostics Price Performance

Shares of AXDX opened at $1.83 on Friday. The firm has a 50-day simple moving average of $1.77 and a two-hundred day simple moving average of $1.44. The stock has a market cap of $43.33 million, a PE ratio of -0.83 and a beta of 0.59. Accelerate Diagnostics has a 1-year low of $0.73 and a 1-year high of $6.20.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Accelerate Diagnostics in a research report on Wednesday. They issued a “sell” rating for the company.

Get Our Latest Stock Analysis on Accelerate Diagnostics

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. lifted its position in Accelerate Diagnostics, Inc. (NASDAQ:AXDX – Free Report) by 1.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,380,654 shares of the medical research company’s stock after buying an additional 26,400 shares during the quarter. Griffin Asset Management Inc. owned approximately 6.26% of Accelerate Diagnostics worth $1,615,000 at the end of the most recent reporting period. 17.14% of the stock is owned by institutional investors.

About Accelerate Diagnostics

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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.