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

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

Accelerate Diagnostics Price Performance

The company has a market cap of $857,000.00, a price-to-earnings ratio of -0.01 and a beta of 0.22. The firm has a 50-day moving average of $0.65 and a 200-day moving average of $1.12. Accelerate Diagnostics has a 12-month low of $0.03 and a 12-month high of $2.09.

Accelerate Diagnostics (NASDAQ:AXDX) last issued its quarterly earnings results on Thursday, March 20th. The medical research company reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.13. The company had revenue of $2.82 million during the quarter, compared to analyst estimates of $3.00 million. As a group, research analysts anticipate that Accelerate Diagnostics will post -2.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Accelerate Diagnostics

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Jane Street Group LLC purchased a new position in Accelerate Diagnostics in the 4th quarter worth about $27,000. Renaissance Technologies LLC boosted its holdings in shares of Accelerate Diagnostics by 160.6% in the fourth quarter. Renaissance Technologies LLC now owns 107,062 shares of the medical research company’s stock worth $128,000 after buying an additional 65,984 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Accelerate Diagnostics by 6.9% in the fourth quarter. Geode Capital Management LLC now owns 135,732 shares of the medical research company’s stock worth $163,000 after acquiring an additional 8,777 shares in the last quarter. 17.14% of the stock is owned by institutional investors and hedge funds.

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.