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

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

Accelerate Diagnostics Stock Performance

Accelerate Diagnostics stock opened at $1.89 on Monday. Accelerate Diagnostics has a 52 week low of $0.73 and a 52 week high of $6.39. The stock has a market capitalization of $41.68 million, a P/E ratio of -0.44 and a beta of 0.61. The stock has a fifty day moving average of $1.74 and a 200-day moving average of $1.33.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Thursday, August 8th. The medical research company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.05. The business had revenue of $2.99 million for the quarter, compared to analyst estimates of $3.00 million. On average, research analysts forecast that Accelerate Diagnostics will post -2.14 earnings per share for the current year.

Institutional Investors Weigh In On Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. raised its stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,354,254 shares of the medical research company’s stock after buying an additional 134,530 shares during the period. Griffin Asset Management Inc. owned about 6.25% of Accelerate Diagnostics worth $1,341,000 as of its most recent SEC filing. 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.