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

Stock analysts at StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note issued to investors on Sunday. The firm set a “hold” rating on the medical research company’s stock.

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

Accelerate Diagnostics Price Performance

Shares of AXDX opened at $1.13 on Friday. Accelerate Diagnostics has a 1 year low of $0.73 and a 1 year high of $3.05. The stock’s fifty day moving average price is $1.47 and its two-hundred day moving average price is $1.54. The firm has a market cap of $28.30 million, a PE ratio of -0.40 and a beta of 0.59.

Insider Buying and Selling at Accelerate Diagnostics

In related news, Director John Patience bought 200,000 shares of Accelerate Diagnostics stock in a transaction on 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 acquisition, 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 43.60% of the company’s stock.

Hedge Funds Weigh In On Accelerate Diagnostics

An institutional investor recently bought a new position in Accelerate Diagnostics stock. Y Intercept Hong Kong Ltd bought a new position in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 19,866 shares of the medical research company’s stock, valued at approximately $34,000. Y Intercept Hong Kong Ltd owned approximately 0.08% of Accelerate Diagnostics at the end of the most recent reporting period. 17.14% of the stock is currently owned by hedge funds and other institutional investors.

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.