Accelerate Diagnostics (NASDAQ:AXDX) Earns Hold Rating from Analysts at StockNews.com

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

Accelerate Diagnostics Trading Down 61.4%

Shares of AXDX opened at $0.03 on Monday. The stock has a market capitalization of $857,140.00, a P/E ratio of -0.01 and a beta of 0.22. The firm’s fifty day simple moving average is $0.67 and its two-hundred day simple moving average is $1.13. Accelerate Diagnostics has a 12 month low of $0.03 and a 12 month high of $2.09.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings results on Thursday, March 20th. The medical research company reported ($0.37) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.13. The firm had revenue of $2.82 million for the quarter, compared to the consensus estimate of $3.00 million. As a group, research analysts predict that Accelerate Diagnostics will post -2.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Accelerate Diagnostics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Jane Street Group LLC bought a new position in shares of Accelerate Diagnostics during the 4th quarter worth about $27,000. Renaissance Technologies LLC boosted its position 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 in the last quarter. Finally, Geode Capital Management LLC boosted its position 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 in the last quarter. Institutional investors own 17.14% of the company’s stock.

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.