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

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

Several other research analysts have also commented on AXDX. William Blair reiterated an outperform rating on shares of Accelerate Diagnostics in a research note on Tuesday, April 2nd. Craig Hallum reduced their price objective on shares of Accelerate Diagnostics from $2.00 to $1.00 and set a hold rating for the company in a research note on Monday, April 1st.

Accelerate Diagnostics Stock Performance

Shares of AXDX opened at $0.95 on Friday. The stock has a market capitalization of $20.58 million, a PE ratio of -0.19 and a beta of 0.52. The company has a 50 day moving average price of $0.98 and a 200-day moving average price of $3.03. Accelerate Diagnostics has a fifty-two week low of $0.73 and a fifty-two week high of $11.90.

Accelerate Diagnostics (NASDAQ:AXDX) last posted its quarterly earnings data on Thursday, March 28th. The medical research company reported ($0.89) EPS for the quarter, missing the consensus estimate of ($0.62) by ($0.27). The company had revenue of $3.03 million for the quarter, compared to analysts’ expectations of $3.80 million. Equities research analysts forecast that Accelerate Diagnostics will post -2.27 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Sonora Investment Management Group LLC acquired a new position in Accelerate Diagnostics during the 3rd quarter valued at approximately $63,000. Tejara Capital Ltd acquired a new position in Accelerate Diagnostics during the 3rd quarter valued at approximately $78,000. TCI Wealth Advisors Inc. acquired a new position in Accelerate Diagnostics during the 3rd quarter valued at approximately $337,000. Finally, Griffin Asset Management Inc. increased its stake in Accelerate Diagnostics by 11.0% during the 1st quarter. Griffin Asset Management Inc. now owns 1,354,254 shares of the medical research company’s stock valued at $1,341,000 after purchasing an additional 134,530 shares in the last 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.