Cubist Systematic Strategies LLC Sells 118,287 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

Cubist Systematic Strategies LLC cut its position in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 46.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 133,731 shares of the medical instruments supplier's stock after selling 118,287 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.18% of OraSure Technologies worth $483,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of OSUR. Franklin Resources Inc. increased its position in shares of OraSure Technologies by 28.5% during the 3rd quarter. Franklin Resources Inc. now owns 269,269 shares of the medical instruments supplier's stock valued at $1,091,000 after purchasing an additional 59,723 shares during the last quarter. JPMorgan Chase & Co. grew its position in OraSure Technologies by 5.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 847,933 shares of the medical instruments supplier's stock worth $3,621,000 after acquiring an additional 46,216 shares during the last quarter. SG Americas Securities LLC bought a new position in OraSure Technologies during the 4th quarter worth approximately $205,000. Exchange Traded Concepts LLC bought a new position in OraSure Technologies during the 4th quarter worth approximately $287,000. Finally, Empowered Funds LLC grew its position in OraSure Technologies by 5.1% during the 4th quarter. Empowered Funds LLC now owns 377,906 shares of the medical instruments supplier's stock worth $1,364,000 after acquiring an additional 18,487 shares during the last quarter. 93.50% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

OSUR has been the topic of several recent research reports. Wall Street Zen upgraded OraSure Technologies from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Evercore ISI reiterated an "in-line" rating and issued a $3.00 price objective on shares of OraSure Technologies in a report on Monday.

Insider Buying and Selling at OraSure Technologies

In other OraSure Technologies news, CFO Kenneth J. Mcgrath bought 64,000 shares of OraSure Technologies stock in a transaction on Thursday, February 27th. The stock was acquired at an average price of $3.15 per share, with a total value of $201,600.00. Following the acquisition, the chief financial officer now owns 371,013 shares in the company, valued at approximately $1,168,690.95. This trade represents a 20.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Manner Carrie Eglinton bought 78,625 shares of OraSure Technologies stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $3.15 per share, with a total value of $247,668.75. Following the acquisition, the chief executive officer now owns 1,259,664 shares in the company, valued at approximately $3,967,941.60. This represents a 6.66% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 190,284 shares of company stock worth $600,348. 3.90% of the stock is owned by insiders.

OraSure Technologies Stock Performance

Shares of OSUR traded up $0.04 on Thursday, reaching $2.59. The stock had a trading volume of 154,773 shares, compared to its average volume of 855,814. The firm has a market capitalization of $193.36 million, a price-to-earnings ratio of 17.17 and a beta of 0.42. The company has a 50-day simple moving average of $3.03 and a 200-day simple moving average of $3.54. OraSure Technologies, Inc. has a 12-month low of $2.36 and a 12-month high of $5.08.

OraSure Technologies announced that its board has approved a share buyback program on Monday, March 24th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the medical instruments supplier to buy up to 15.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

OraSure Technologies Profile

OraSure Technologies, Inc, together with its subsidiaries, provides point-of-care and home diagnostic tests, specimen collection devices, and microbiome laboratory and analytical services in the United States, Europe, and internationally. The company's products include InteliSwab COVID-19 rapid test, InteliSwab COVID-19 rapid test pro, InteliSwab COVID-19 rapid test rx, OraQuick Rapid HIV test, OraQuick In-Home HIV test, OraQuick HIV self-test, OraQuick HCV rapid antibody test, OraQuick Ebola rapid antigen test, OraSure oral fluid collection device used in conjunction with screening and confirmatory tests for HIV-1 antibodies; Intercept drug testing systems; immunoassay tests and reagents; and Q.E.D.