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

StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note published on Friday morning. The brokerage 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 Price Performance

Shares of AXDX opened at $1.18 on Friday. The firm has a market capitalization of $29.43 million, a PE ratio of -0.41 and a beta of 0.61. The company’s 50-day moving average is $1.19 and its 200-day moving average is $1.54. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $2.09.

Insider Buying and Selling

In other Accelerate Diagnostics news, Director John Patience purchased 200,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were acquired at an average cost of $1.57 per share, with a total value of $314,000.00. Following the completion of the transaction, the director now owns 653,224 shares in the company, valued at $1,025,561.68. The trade was a 44.13 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 43.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Accelerate Diagnostics

A number of hedge funds have recently bought and sold shares of AXDX. Y Intercept Hong Kong Ltd bought a new position in Accelerate Diagnostics during the third quarter worth about $34,000. Geode Capital Management LLC increased its holdings in Accelerate Diagnostics by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock valued at $163,000 after buying an additional 8,777 shares during the period. Renaissance Technologies LLC increased its holdings in Accelerate Diagnostics by 160.6% in the 4th quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock valued at $128,000 after buying an additional 65,984 shares during the period. Finally, Jane Street Group LLC bought a new position in Accelerate Diagnostics in the 4th quarter valued at about $27,000. 17.14% of the stock is owned by institutional investors.

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.