Accelerate Diagnostics (NASDAQ:AXDX) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the medical research company’s stock.

Accelerate Diagnostics Price Performance

Shares of AXDX opened at $0.55 on Friday. The firm has a market capitalization of $13.84 million, a price-to-earnings ratio of -0.19 and a beta of 0.46. Accelerate Diagnostics has a 1-year low of $0.49 and a 1-year high of $2.09. The company has a 50-day moving average of $0.94 and a 200 day moving average of $1.32.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings results on Thursday, March 20th. The medical research company reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.13. The company had revenue of $2.82 million for the quarter, compared to the consensus estimate of $3.00 million. On average, equities analysts anticipate that Accelerate Diagnostics will post -2.3 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Accelerate Diagnostics

Several institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in 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 worth $163,000 after acquiring an additional 8,777 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Accelerate Diagnostics in the 3rd quarter worth approximately $34,000. Jane Street Group LLC bought a new position in shares of Accelerate Diagnostics during the fourth quarter valued at approximately $27,000. Finally, Renaissance Technologies LLC increased its holdings in Accelerate Diagnostics by 160.6% during the fourth 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. Hedge funds and other institutional investors 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.