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

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

Accelerate Diagnostics Trading Down 3.8 %

AXDX opened at $1.28 on Friday. The firm has a market capitalization of $28.22 million, a PE ratio of -0.31 and a beta of 0.57. Accelerate Diagnostics has a twelve month low of $0.73 and a twelve month high of $7.58. The firm’s 50-day moving average price is $1.23 and its 200 day moving average price is $1.10.

Accelerate Diagnostics (NASDAQ:AXDX) last released its quarterly earnings data on Wednesday, May 8th. The medical research company reported ($0.88) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.16). The business had revenue of $2.92 million during the quarter, compared to the consensus estimate of $3.00 million. As a group, analysts predict that Accelerate Diagnostics will post -2.37 earnings per share for the current fiscal year.

Institutional Trading of Accelerate Diagnostics

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. increased its holdings in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 11.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,354,254 shares of the medical research company’s stock after acquiring an additional 134,530 shares during the period. Griffin Asset Management Inc. owned approximately 6.25% of Accelerate Diagnostics worth $1,341,000 at the end of the most recent quarter. Institutional investors 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.