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

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

Accelerate Diagnostics Stock Performance

The firm has a market cap of $857,000.00, a P/E ratio of -0.01 and a beta of 0.22. The business’s 50 day simple moving average is $0.65 and its 200-day simple moving average is $1.12. Accelerate Diagnostics has a one year low of $0.03 and a one year high of $2.09.

Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results on Thursday, March 20th. The medical research company reported ($0.37) earnings per share (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 the consensus estimate of $3.00 million. Analysts expect that Accelerate Diagnostics will post -2.3 earnings per share for the current year.

Hedge Funds Weigh In On Accelerate Diagnostics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in Accelerate Diagnostics during the fourth quarter worth $27,000. Renaissance Technologies LLC increased its stake 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 purchasing an additional 65,984 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Accelerate Diagnostics by 6.9% during the 4th quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock worth $163,000 after purchasing an additional 8,777 shares during the last quarter. 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.