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

StockNews.com began coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX) in a report issued on Tuesday. The brokerage issued 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 Down 10.8 %

Shares of AXDX stock opened at $1.24 on Tuesday. The company’s fifty day moving average price is $1.31 and its 200-day moving average price is $1.54. The stock has a market cap of $31.05 million, a PE ratio of -0.43 and a beta of 0.59. Accelerate Diagnostics has a 12 month low of $0.73 and a 12 month high of $2.09.

Insider Buying and Selling at Accelerate Diagnostics

In other news, Director John Patience purchased 200,000 shares of the company’s 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 purchase, the director now directly owns 653,224 shares in the company, valued at approximately $1,025,561.68. This trade represents a 44.13 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 43.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Accelerate Diagnostics stock. Y Intercept Hong Kong Ltd acquired a new position in Accelerate Diagnostics, Inc. (NASDAQ:AXDX) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 19,866 shares of the medical research company’s stock, valued at approximately $34,000. Y Intercept Hong Kong Ltd owned about 0.08% of Accelerate Diagnostics as of its most recent SEC filing. 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.