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

Equities researchers at StockNews.com initiated coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report issued on Wednesday. The brokerage set a “sell” rating on the medical research company’s stock.

Accelerate Diagnostics Stock Performance

Shares of AXDX stock opened at $1.97 on Wednesday. The company has a 50 day moving average of $1.77 and a 200-day moving average of $1.43. Accelerate Diagnostics has a 12-month low of $0.73 and a 12-month high of $6.20.

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

Hedge Funds Weigh In On Accelerate Diagnostics

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. increased its holdings in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,380,654 shares of the medical research company’s stock after buying an additional 26,400 shares during the period. Griffin Asset Management Inc. owned 6.26% of Accelerate Diagnostics worth $1,615,000 as of its most recent SEC filing. 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.