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

Equities researchers at StockNews.com initiated coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report released on Saturday. The firm set a “hold” rating on the medical research company’s stock.

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

Accelerate Diagnostics Trading Up 7.1 %

Accelerate Diagnostics stock opened at $1.35 on Friday. The firm has a market capitalization of $33.81 million, a price-to-earnings ratio of -0.47 and a beta of 0.59. The firm has a 50 day simple moving average of $1.56 and a 200 day simple moving average of $1.54. Accelerate Diagnostics has a 1-year low of $0.73 and a 1-year high of $4.07.

Insider Buying and Selling at Accelerate Diagnostics

In related news, Director John Patience purchased 200,000 shares of Accelerate Diagnostics stock in a transaction that occurred on Tuesday, December 3rd. The shares were bought at an average price of $1.57 per share, for a total transaction of $314,000.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 43.60% of the stock is currently owned by corporate insiders.

Institutional Trading of 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) in the 3rd quarter, according to the company in its most recent Form 13F 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 as of its most recent filing with the SEC. Institutional investors and hedge funds own 17.14% of the company’s stock.

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.