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

StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report released on Saturday morning. The brokerage issued 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

NASDAQ AXDX opened at $1.08 on Friday. Accelerate Diagnostics has a 12 month low of $0.73 and a 12 month high of $2.09. The company has a 50-day moving average of $1.18 and a 200-day moving average of $1.52. The company has a market cap of $27.05 million, a P/E ratio of -0.38 and a beta of 0.61.

Insider Transactions at Accelerate Diagnostics

In other news, Director John Patience bought 200,000 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $1.57 per share, for a total transaction of $314,000.00. Following the acquisition, the director now owns 653,224 shares of the company’s stock, valued at $1,025,561.68. This trade represents a 44.13 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 43.60% of the company’s stock.

Institutional Trading of Accelerate Diagnostics

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of 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 worth $163,000 after purchasing an additional 8,777 shares during the period. Renaissance Technologies LLC grew its holdings in shares of 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 purchasing an additional 65,984 shares during the period. Jane Street Group LLC purchased a new stake in shares of Accelerate Diagnostics during the 4th quarter worth about $27,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Accelerate Diagnostics during the 3rd quarter worth about $34,000. 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.