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

StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report published on Friday morning. The brokerage issued a hold rating on the medical research company’s stock.

Separately, BTIG Research upgraded Accelerate Diagnostics to a “strong-buy” rating in a research report on Wednesday, December 11th.

Accelerate Diagnostics Stock Performance

NASDAQ:AXDX opened at $1.18 on Friday. The firm’s 50-day moving average is $1.19 and its 200-day moving average is $1.54. The company has a market cap of $29.42 million, a price-to-earnings ratio of -0.41 and a beta of 0.61. Accelerate Diagnostics has a 52-week low of $0.73 and a 52-week high of $2.09.

Insider Activity at Accelerate Diagnostics

In other news, Director John Patience bought 200,000 shares of Accelerate Diagnostics stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average price of $1.57 per share, for a total transaction of $314,000.00. Following the purchase, the director now owns 653,224 shares of the company’s stock, valued at approximately $1,025,561.68. This trade represents a 44.13 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 43.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Accelerate Diagnostics

A number of hedge funds have recently made changes to their positions in the company. Y Intercept Hong Kong Ltd bought a new stake in Accelerate Diagnostics during the third quarter worth about $34,000. Jane Street Group LLC bought a new stake in Accelerate Diagnostics during the 4th quarter worth approximately $27,000. Renaissance Technologies LLC grew its position in 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 acquiring an additional 65,984 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in 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 valued at $163,000 after purchasing an additional 8,777 shares in the last quarter. Institutional investors and hedge funds 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.