Accelerate Diagnostics (NASDAQ:AXDX) Earns Hold Rating from Analysts at StockNews.com

Stock analysts at StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report released on Sunday. The firm set a “hold” rating on the medical research company’s stock.

Accelerate Diagnostics Price Performance

Shares of Accelerate Diagnostics stock opened at $0.54 on Friday. Accelerate Diagnostics has a 1-year low of $0.49 and a 1-year high of $2.09. The company has a market capitalization of $13.66 million, a P/E ratio of -0.19 and a beta of 0.46. The business’s fifty day moving average price is $0.80 and its two-hundred day moving average price is $1.21.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings data on Thursday, March 20th. The medical research company reported ($0.37) earnings per share for the quarter, beating analysts’ consensus estimates 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, research analysts expect that Accelerate Diagnostics will post -2.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Accelerate Diagnostics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXDX. Jane Street Group LLC acquired a new position in shares of Accelerate Diagnostics during the 4th quarter valued at $27,000. Renaissance Technologies LLC boosted its stake 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 in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Accelerate Diagnostics by 6.9% during 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. 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.