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

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

Accelerate Diagnostics Trading Down 1.2 %

Shares of AXDX stock opened at $1.99 on Wednesday. The company has a market capitalization of $47.12 million, a price-to-earnings ratio of -0.90 and a beta of 0.59. Accelerate Diagnostics has a 1-year low of $0.73 and a 1-year high of $6.20. The stock’s fifty day simple moving average is $1.77 and its 200-day simple moving average is $1.42.

Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results on Thursday, August 8th. The medical research company reported ($0.50) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.05. The business had revenue of $2.99 million for the quarter, compared to analysts’ expectations of $3.00 million. On average, sell-side analysts predict 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. raised its position in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,380,654 shares of the medical research company’s stock after purchasing an additional 26,400 shares during the quarter. Griffin Asset Management Inc. owned approximately 6.26% of Accelerate Diagnostics worth $1,615,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.