Accelerate Diagnostics (NASDAQ:AXDX) Earns Sell Rating from Analysts at StockNews.com

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

Accelerate Diagnostics Stock Performance

Shares of AXDX stock opened at $1.83 on Wednesday. The firm has a market capitalization of $43.33 million, a PE ratio of -0.64 and a beta of 0.59. The stock has a fifty day moving average of $1.77 and a two-hundred day moving average of $1.43. Accelerate Diagnostics has a 1 year low of $0.73 and a 1 year high of $6.20.

Accelerate Diagnostics (NASDAQ:AXDX) last released its earnings results on Thursday, November 7th. The medical research company reported ($0.59) EPS for the quarter, missing analysts’ consensus estimates of ($0.47) by ($0.12). The company had revenue of $2.98 million for the quarter, compared to analyst estimates of $3.00 million. Equities research analysts predict that Accelerate Diagnostics will post -2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Accelerate Diagnostics stock. Griffin Asset Management Inc. raised its stake in shares of Accelerate Diagnostics, Inc. (NASDAQ:AXDX) by 1.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,380,654 shares of the medical research company’s stock after buying an additional 26,400 shares during the period. Griffin Asset Management Inc. owned about 6.26% of Accelerate Diagnostics worth $1,615,000 as of its most recent SEC filing. Hedge funds and other 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.