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

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

Separately, BTIG Research upgraded shares of Accelerate Diagnostics to a “strong-buy” rating in a research report on Wednesday, December 11th.

Accelerate Diagnostics Stock Performance

Shares of NASDAQ AXDX opened at $1.08 on Friday. The firm has a market capitalization of $27.05 million, a P/E ratio of -0.38 and a beta of 0.61. Accelerate Diagnostics has a one year low of $0.73 and a one year high of $2.09. The company’s fifty day moving average is $1.18 and its two-hundred day moving average is $1.52.

Insider Transactions at Accelerate Diagnostics

In other news, Director John Patience purchased 200,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was acquired at an average price of $1.57 per share, with a total value of $314,000.00. Following the purchase, the director now directly owns 653,224 shares of the company’s stock, valued at $1,025,561.68. This represents a 44.13 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 43.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC raised its stake in Accelerate Diagnostics by 160.6% in the 4th 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 last quarter. Jane Street Group LLC acquired a new position in Accelerate Diagnostics in the 4th quarter valued at about $27,000. Y Intercept Hong Kong Ltd acquired a new position in Accelerate Diagnostics in the 3rd quarter valued at about $34,000. Finally, Geode Capital Management LLC raised its stake 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 valued at $163,000 after purchasing an additional 8,777 shares during the last quarter. Institutional investors and hedge funds 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.