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

Analysts at StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a note issued to investors on Sunday. 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 Price Performance

Accelerate Diagnostics stock opened at $1.10 on Friday. The firm has a market cap of $27.55 million, a PE ratio of -0.38 and a beta of 0.55. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $2.09. The stock’s fifty day moving average price is $1.18 and its two-hundred day moving average price is $1.50.

Hedge Funds Weigh In On Accelerate Diagnostics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd bought a new stake in Accelerate Diagnostics in the 3rd quarter worth $34,000. Geode Capital Management LLC raised its holdings in Accelerate Diagnostics by 6.9% in the 4th quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock worth $163,000 after acquiring an additional 8,777 shares during the last quarter. Renaissance Technologies LLC raised its stake 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 worth $128,000 after purchasing an additional 65,984 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Accelerate Diagnostics during the 4th quarter valued at about $27,000. 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.