StockNews.com Initiates Coverage on Accelerate Diagnostics (NASDAQ:AXDX)

StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a note issued to investors on Wednesday. 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

Shares of NASDAQ AXDX opened at $1.27 on Wednesday. The company has a market cap of $31.80 million, a P/E ratio of -0.44 and a beta of 0.61. Accelerate Diagnostics has a 1 year low of $0.73 and a 1 year high of $2.09. The firm has a 50-day simple moving average of $1.26 and a two-hundred day simple moving average of $1.54.

Insider Transactions at Accelerate Diagnostics

In other Accelerate Diagnostics news, Director John Patience acquired 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average cost of $1.57 per share, with a total value of $314,000.00. Following the completion of the acquisition, the director now directly owns 653,224 shares in the company, valued at $1,025,561.68. This represents a 44.13 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 43.60% of the company’s stock.

Hedge Funds Weigh In On Accelerate Diagnostics

An institutional investor recently bought a new position in Accelerate Diagnostics stock. Y Intercept Hong Kong Ltd purchased a new stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 19,866 shares of the medical research company’s stock, valued at approximately $34,000. Y Intercept Hong Kong Ltd owned about 0.08% of Accelerate Diagnostics as of its most recent filing with the Securities and Exchange Commission (SEC). 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.