Accelerate Diagnostics (NASDAQ:AXDX) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report report published on Thursday. The firm issued a hold rating on the medical research company’s stock.

Separately, BTIG Research upgraded shares of Accelerate Diagnostics to a “strong-buy” rating in a research note on Wednesday, December 11th.

Accelerate Diagnostics Trading Down 0.8 %

NASDAQ:AXDX opened at $1.19 on Thursday. Accelerate Diagnostics has a 1 year low of $0.73 and a 1 year high of $2.09. The firm has a 50 day moving average of $1.22 and a 200-day moving average of $1.54. The stock has a market capitalization of $29.80 million, a P/E ratio of -0.42 and a beta of 0.61.

Insider Activity at Accelerate Diagnostics

In related news, Director John Patience purchased 200,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was acquired 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 directly owns 653,224 shares in the company, valued at approximately $1,025,561.68. This trade represents a 44.13 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 43.60% of the stock is currently owned by company insiders.

Institutional Trading of Accelerate Diagnostics

A number of hedge funds and other institutional investors have recently modified their holdings of AXDX. Y Intercept Hong Kong Ltd acquired a new stake in shares of Accelerate Diagnostics in the third quarter valued at approximately $34,000. Renaissance Technologies LLC increased its holdings in shares of Accelerate Diagnostics by 160.6% in the fourth quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock valued at $128,000 after purchasing an additional 65,984 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Accelerate Diagnostics by 6.9% in the fourth 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. 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.