3,613,836 Shares in OraSure Technologies, Inc. $OSUR Acquired by Altai Capital Management L.P.

Key Points

• Altai Capital Management acquired 3,613,836 shares of OraSure Technologies, valued at approximately $16.1 million, giving it a 5.24% stake. OraSure now represents 32.9% of Altai’s portfolio and is its second-largest holding.
• Institutional investors own approximately 93.5% of OSUR, with several other funds establishing new positions during recent quarters.
• Analyst sentiment remains cautious: OraSure has an average “Reduce” rating and a $3.00 price target, while shares recently opened at $3.82 after declining 1.5%.

Altai Capital Management L.P. bought a new stake in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,613,836 shares of the medical instruments supplier's stock, valued at approximately $16,118,000. OraSure Technologies makes up about 32.9% of Altai Capital Management L.P.'s investment portfolio, making the stock its 2nd biggest position. Altai Capital Management L.P. owned about 5.24% of OraSure Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of OSUR. Prudential Financial Inc. bought a new stake in shares of OraSure Technologies during the 2nd quarter worth $31,000. Quadrature Capital Ltd purchased a new position in shares of OraSure Technologies in the 4th quarter worth about $28,000. Diversify Advisory Services LLC purchased a new position in shares of OraSure Technologies in the 2nd quarter worth about $47,000. Diversify Wealth Management LLC bought a new position in shares of OraSure Technologies during the 1st quarter valued at about $36,000. Finally, Amundi purchased a new position in shares of OraSure Technologies during the 1st quarter valued at about $47,000. 93.50% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

OSUR has been the subject of a number of recent research reports. Wall Street Zen upgraded OraSure Technologies from a "sell" rating to a "hold" rating in a research report on Monday, August 10th. Weiss Ratings upgraded OraSure Technologies from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $3.00.

OraSure Technologies Trading Down 1.5%

Shares of NASDAQ:OSUR opened at $3.82 on Tuesday. The company has a market cap of $263.47 million, a price-to-earnings ratio of -5.54 and a beta of 1.00. The company has a 50-day moving average price of $4.10 and a 200-day moving average price of $3.52. OraSure Technologies, Inc. has a 12 month low of $2.08 and a 12 month high of $4.58.

About OraSure Technologies

OraSure Technologies, Inc is a Bethlehem, Pennsylvania–based diagnostic and medical device company specializing in the development, manufacture and commercialization of point-of-care and self-testing products. Founded in 1988, OraSure has built a portfolio of oral fluid and other non-invasive specimen collection technologies that support the detection of infectious diseases, drugs of abuse, and health and wellness biomarkers.

The company's flagship product, the OraQuick® rapid HIV test, was the first Food and Drug Administration–approved over-the-counter oral fluid test for the detection of HIV-1/2 antibodies.

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