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

Analysts at StockNews.com started coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a research note issued to investors on Wednesday. The firm set a “hold” rating on the medical research company’s stock.

Accelerate Diagnostics Trading Down 2.0 %

AXDX opened at $0.99 on Wednesday. The stock’s 50-day moving average price is $1.12 and its 200 day moving average price is $3.72. Accelerate Diagnostics has a 12-month low of $0.83 and a 12-month high of $11.90. The firm has a market cap of $14.42 million, a price-to-earnings ratio of -0.18 and a beta of 0.51.

Hedge Funds Weigh In On Accelerate Diagnostics

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Accelerate Diagnostics by 22.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,825,643 shares of the medical research company’s stock worth $4,295,000 after acquiring an additional 520,656 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Accelerate Diagnostics by 15.5% during the 1st quarter. Baird Financial Group Inc. now owns 1,741,547 shares of the medical research company’s stock worth $2,508,000 after purchasing an additional 233,478 shares during the period. State Street Corp increased its holdings in Accelerate Diagnostics by 12.9% during the 1st quarter. State Street Corp now owns 1,234,706 shares of the medical research company’s stock worth $1,778,000 after purchasing an additional 140,883 shares during the period. Griffin Asset Management Inc. increased its holdings in Accelerate Diagnostics by 3.0% during the 4th quarter. Griffin Asset Management Inc. now owns 1,219,724 shares of the medical research company’s stock worth $4,781,000 after purchasing an additional 35,146 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Accelerate Diagnostics by 31.8% during the 2nd quarter. Geode Capital Management LLC now owns 655,906 shares of the medical research company’s stock worth $531,000 after purchasing an additional 158,383 shares during the period. 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.