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

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

Several other analysts have also issued reports on the stock. Craig Hallum dropped their target price on shares of Accelerate Diagnostics from $2.00 to $1.00 and set a hold rating on the stock in a research report on Monday, April 1st. William Blair restated an outperform rating on shares of Accelerate Diagnostics in a research report on Tuesday, April 2nd.

Accelerate Diagnostics Price Performance

Shares of Accelerate Diagnostics stock opened at $0.91 on Monday. The firm has a fifty day moving average price of $0.95 and a 200 day moving average price of $2.66. Accelerate Diagnostics has a 1 year low of $0.73 and a 1 year high of $11.90. The stock has a market cap of $19.61 million, a PE ratio of -0.19 and a beta of 0.53.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its earnings results on Thursday, March 28th. The medical research company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.62) by ($0.27). The company had revenue of $3.03 million for the quarter, compared to analysts’ expectations of $3.80 million. As a group, equities analysts expect that Accelerate Diagnostics will post -2.27 EPS for the current year.

Hedge Funds Weigh In On Accelerate Diagnostics

Several large investors have recently bought and sold shares of the business. Griffin Asset Management Inc. raised its holdings in Accelerate Diagnostics by 11.0% during the first quarter. Griffin Asset Management Inc. now owns 1,354,254 shares of the medical research company’s stock worth $1,341,000 after purchasing an additional 134,530 shares in the last quarter. TCI Wealth Advisors Inc. purchased a new position in shares of Accelerate Diagnostics during the 3rd quarter worth approximately $337,000. Tejara Capital Ltd purchased a new position in shares of Accelerate Diagnostics during the 3rd quarter worth approximately $78,000. Finally, Sonora Investment Management Group LLC purchased a new position in shares of Accelerate Diagnostics during the 3rd quarter worth approximately $63,000. Hedge funds and other 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.