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

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

Accelerate Diagnostics Price Performance

Shares of NASDAQ:AXDX opened at $1.73 on Tuesday. The company has a market capitalization of $38.15 million, a price-to-earnings ratio of -0.43 and a beta of 0.57. The firm’s 50 day simple moving average is $1.45 and its 200 day simple moving average is $1.18. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $7.00.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its earnings results on Thursday, August 8th. The medical research company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.05. The firm had revenue of $2.99 million during the quarter, compared to analyst estimates of $3.00 million. Equities research analysts expect that Accelerate Diagnostics will post -2.14 earnings per share for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. increased its holdings in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 SEC. 17.14% of the stock is owned by institutional investors.

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.