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

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

Accelerate Diagnostics Stock Performance

AXDX opened at $1.79 on Monday. Accelerate Diagnostics has a 1 year low of $0.73 and a 1 year high of $6.39. The firm has a 50 day moving average price of $1.75 and a 200 day moving average price of $1.35. The company has a market cap of $39.47 million, a PE ratio of -0.44 and a beta of 0.61.

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

Institutional Investors Weigh In On Accelerate Diagnostics

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. increased its position in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,354,254 shares of the medical research company’s stock after purchasing an additional 134,530 shares during the quarter. Griffin Asset Management Inc. owned 6.25% of Accelerate Diagnostics worth $1,341,000 as of its most recent filing with the Securities and Exchange Commission. 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.