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

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

Accelerate Diagnostics Stock Down 3.6 %

NASDAQ:AXDX opened at $1.88 on Friday. The company has a market cap of $41.46 million, a P/E ratio of -0.46 and a beta of 0.61. Accelerate Diagnostics has a twelve month low of $0.73 and a twelve month high of $7.00. The business has a 50 day moving average price of $1.65 and a two-hundred day moving average price of $1.28.

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 analysts’ consensus estimates of ($0.55) by $0.05. The business had revenue of $2.99 million during the quarter, compared to the consensus estimate of $3.00 million. As a group, analysts anticipate that Accelerate Diagnostics will post -2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. increased its stake in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,354,254 shares of the medical research company’s stock after buying an additional 134,530 shares during the quarter. Griffin Asset Management Inc. owned approximately 6.25% of Accelerate Diagnostics worth $1,341,000 as of its most recent SEC filing. Hedge funds and other institutional investors 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.