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

StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note released on Sunday 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 Stock Down 4.4 %

Shares of AXDX opened at $1.08 on Friday. Accelerate Diagnostics has a twelve month low of $0.73 and a twelve month high of $3.05. The stock has a market capitalization of $27.05 million, a P/E ratio of -0.38 and a beta of 0.59. The company has a 50 day moving average of $1.47 and a 200-day moving average of $1.54.

Insiders Place Their Bets

In other news, Director John Patience bought 200,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $1.57 per share, with a total value of $314,000.00. Following the completion of the acquisition, the director now owns 653,224 shares of the company’s stock, valued at $1,025,561.68. This represents a 44.13 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company 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 acquired a new stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 19,866 shares of the medical research company’s stock, valued at approximately $34,000. Y Intercept Hong Kong Ltd owned 0.08% of Accelerate Diagnostics as of its most recent SEC filing. 17.14% of the stock is owned by hedge funds and other institutional investors.

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.