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

Analysts at StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note issued on Saturday. The firm set a “hold” rating on the medical research company’s stock.

Accelerate Diagnostics Stock Up 1.7 %

NASDAQ:AXDX opened at $0.55 on Friday. Accelerate Diagnostics has a 52 week low of $0.49 and a 52 week high of $2.09. The company has a fifty day simple moving average of $0.86 and a two-hundred day simple moving average of $1.26. The company has a market cap of $13.97 million, a price-to-earnings ratio of -0.19 and a beta of 0.46.

Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results on Thursday, March 20th. The medical research company reported ($0.37) EPS for the quarter, topping the consensus estimate of ($0.50) by $0.13. The company had revenue of $2.82 million for the quarter, compared to analyst estimates of $3.00 million. On average, analysts expect that Accelerate Diagnostics will post -2.3 EPS for the current year.

Institutional Trading of Accelerate Diagnostics

A number of institutional investors have recently bought and sold shares of the business. Jane Street Group LLC purchased a new stake in Accelerate Diagnostics during the fourth quarter worth approximately $27,000. Renaissance Technologies LLC lifted its position in shares of Accelerate Diagnostics by 160.6% during the 4th quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock worth $128,000 after buying an additional 65,984 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of 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 in the last quarter. 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.