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 issued to investors on Monday morning. The brokerage issued a hold rating on the medical research company’s stock.

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

Accelerate Diagnostics Stock Down 4.5 %

Shares of AXDX stock opened at $1.07 on Monday. The stock’s 50-day moving average price is $1.38 and its 200 day moving average price is $1.54. The stock has a market capitalization of $26.79 million, a PE ratio of -0.37 and a beta of 0.59. Accelerate Diagnostics has a 52-week low of $0.73 and a 52-week high of $2.33.

Insiders Place Their Bets

In related news, Director John Patience bought 200,000 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was bought at an average cost of $1.57 per share, for a total transaction of $314,000.00. Following the completion of the purchase, the director now directly owns 653,224 shares in the company, valued at approximately $1,025,561.68. The trade was a 44.13 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 43.60% of the stock is owned by corporate insiders.

Institutional Trading of Accelerate Diagnostics

An institutional investor recently bought a new position in Accelerate Diagnostics stock. Y Intercept Hong Kong Ltd purchased a new position in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 19,866 shares of the medical research company’s stock, valued at approximately $34,000. Y Intercept Hong Kong Ltd owned 0.08% of Accelerate Diagnostics as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other 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.