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

Posted by Cynthia Vaughn on Nov 2nd, 2024

StockNews.com assumed coverage on shares of Accelerate Diagnostics (NASDAQ:AXDX – Free Report) in a research note released on Tuesday morning. The brokerage issued a hold rating on the medical research company’s stock.

Accelerate Diagnostics Price Performance

AXDX stock opened at $1.94 on Tuesday. The firm has a market cap of $45.82 million, a price-to-earnings ratio of -0.88 and a beta of 0.61. Accelerate Diagnostics has a 1-year low of $0.73 and a 1-year high of $6.25. The firm has a fifty day moving average price of $1.77 and a two-hundred day moving average price of $1.40.

Accelerate Diagnostics (NASDAQ:AXDX – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The medical research company reported ($0.50) EPS for the quarter, beating the consensus estimate of ($0.55) by $0.05. The business had revenue of $2.99 million during the quarter, compared to analyst estimates of $3.00 million. As a group, analysts expect that Accelerate Diagnostics will post -2.14 EPS for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Accelerate Diagnostics stock. Griffin Asset Management Inc. lifted its holdings in Accelerate Diagnostics, Inc. (NASDAQ:AXDX – Free Report) by 1.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,380,654 shares of the medical research company’s stock after purchasing an additional 26,400 shares during the quarter. Griffin Asset Management Inc. owned 6.26% of Accelerate Diagnostics worth $1,615,000 as of its most recent filing with the SEC. 17.14% of the stock is owned by institutional investors.

Accelerate Diagnostics Company Profile

(Get Free Report)

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.