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

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

Accelerate Diagnostics Stock Performance

Shares of AXDX stock opened at $1.28 on Friday. Accelerate Diagnostics has a 1 year low of $0.73 and a 1 year high of $7.58. The business’s fifty day moving average is $1.23 and its 200-day moving average is $1.10. The stock has a market cap of $28.22 million, a PE ratio of -0.31 and a beta of 0.57.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.16). The firm had revenue of $2.92 million for the quarter, compared to the consensus estimate of $3.00 million. Equities research analysts predict that Accelerate Diagnostics will post -2.37 earnings per share for the current year.

Hedge Funds Weigh In On Accelerate Diagnostics

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