Accelerate Diagnostics (NASDAQ:AXDX) Now Covered by Analysts at StockNews.com

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

Accelerate Diagnostics Stock Performance

Shares of AXDX stock opened at $1.99 on Wednesday. The stock has a market cap of $47.12 million, a PE ratio of -0.90 and a beta of 0.59. The business’s fifty day moving average is $1.77 and its 200-day moving average is $1.42. Accelerate Diagnostics has a 1 year low of $0.73 and a 1 year high of $6.20.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.50) EPS for the quarter, topping the consensus estimate of ($0.55) by $0.05. The business had revenue of $2.99 million during the quarter, compared to the consensus estimate of $3.00 million. Equities research analysts predict that Accelerate Diagnostics will post -2.14 earnings per share for the current year.

Institutional Trading of Accelerate Diagnostics

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