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

Research analysts at StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note issued 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 report on Wednesday, December 11th.

Accelerate Diagnostics Stock Performance

Shares of AXDX stock opened at $1.18 on Thursday. The firm has a market cap of $29.55 million, a price-to-earnings ratio of -0.41 and a beta of 0.61. Accelerate Diagnostics has a 52 week low of $0.73 and a 52 week high of $2.09. The firm’s 50-day simple moving average is $1.21 and its two-hundred day simple moving average is $1.54.

Insider Activity

In other Accelerate Diagnostics news, Director John Patience purchased 200,000 shares of the stock in a transaction dated Tuesday, December 3rd. The shares were bought at an average price of $1.57 per share, with a total value of $314,000.00. Following the completion of the transaction, the director now directly owns 653,224 shares in the company, valued at approximately $1,025,561.68. This trade represents a 44.13 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 43.60% of the company’s stock.

Institutional Trading of Accelerate Diagnostics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in shares of Accelerate Diagnostics in the fourth quarter valued at approximately $27,000. Renaissance Technologies LLC raised its position in shares of Accelerate Diagnostics by 160.6% in the fourth quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock valued at $128,000 after purchasing an additional 65,984 shares during the period. Geode Capital Management LLC raised its position in shares of Accelerate Diagnostics by 6.9% in the fourth 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 during the period. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Accelerate Diagnostics in the third quarter valued at approximately $34,000. 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.