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

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

Accelerate Diagnostics Trading Down 2.0 %

Accelerate Diagnostics stock opened at $0.99 on Wednesday. The firm’s 50 day simple moving average is $1.12 and its 200 day simple moving average is $3.72. The firm has a market capitalization of $14.42 million, a PE ratio of -0.18 and a beta of 0.51. Accelerate Diagnostics has a 1-year low of $0.83 and a 1-year high of $11.90.

Institutional Trading of Accelerate Diagnostics

A number of hedge funds and other institutional investors have recently bought and sold shares of AXDX. Vanguard Group Inc. increased its holdings 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 during the period. Tejara Capital Ltd purchased a new position in Accelerate Diagnostics in the 4th quarter worth approximately $185,000. Baird Financial Group Inc. grew its stake in Accelerate Diagnostics by 15.5% in 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 buying an additional 233,478 shares in the last quarter. Morgan Stanley grew its stake in Accelerate Diagnostics by 598.9% in the 4th quarter. Morgan Stanley now owns 257,489 shares of the medical research company’s stock worth $182,000 after buying an additional 220,646 shares in the last quarter. Finally, Two Sigma Investments LP purchased a new position in Accelerate Diagnostics in the 3rd quarter worth approximately $329,000. 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.