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

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

Separately, BTIG Research raised shares of Accelerate Diagnostics to a “strong-buy” rating in a research note on Wednesday, December 11th.

Accelerate Diagnostics Price Performance

AXDX stock opened at $1.18 on Thursday. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $2.09. The stock has a market cap of $29.55 million, a PE ratio of -0.41 and a beta of 0.61. The firm has a 50 day simple moving average of $1.21 and a two-hundred day simple moving average of $1.54.

Insider Activity

In other Accelerate Diagnostics news, Director John Patience acquired 200,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was bought at an average price of $1.57 per share, with a total value 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 43.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Accelerate Diagnostics

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC boosted its stake 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 purchasing an additional 8,777 shares in the last quarter. Renaissance Technologies LLC boosted 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 valued at $128,000 after buying an additional 65,984 shares during the period. Jane Street Group LLC purchased a new stake in Accelerate Diagnostics during the 4th quarter valued at $27,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Accelerate Diagnostics during the 3rd quarter valued at $34,000. Hedge funds and other institutional investors own 17.14% of the company’s stock.

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.