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

StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research report sent to investors on Sunday morning. The firm issued a hold rating on the medical research company’s stock.

Accelerate Diagnostics Stock Performance

NASDAQ AXDX opened at $1.87 on Friday. The business has a fifty day moving average price of $1.72 and a 200 day moving average price of $1.31. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $6.39. The company has a market cap of $41.24 million, a P/E ratio of -0.46 and a beta of 0.61.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Thursday, August 8th. The medical research company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.05. The firm had revenue of $2.99 million during the quarter, compared to analyst estimates of $3.00 million. As a group, sell-side analysts predict that Accelerate Diagnostics will post -2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. grew its stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,380,654 shares of the medical research company’s stock after acquiring an additional 26,400 shares during the quarter. Griffin Asset Management Inc. owned about 6.26% of Accelerate Diagnostics worth $1,615,000 as of its most recent SEC filing. 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.