Gagnon Advisors LLC Has $3.62 Million Stake in OraSure Technologies, Inc. $OSUR

Key Points

• Gagnon Advisors LLC increased its stake in OraSure Technologies, Inc. by 51.4% during Q2, now holding approximately 1,207,440 shares worth $3.62 million, making it the firm's 19th largest holding.
• Institutional investors dominate OraSure's ownership, holding over 93.5% of the company’s stock, with significant investments from multiple hedge funds in the past quarter.
• Analysts have issued a "sell" rating on OraSure Technologies, suggesting a cautious outlook, with an average target price set at $3.00.

Gagnon Advisors LLC lifted its stake in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 51.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,207,440 shares of the medical instruments supplier's stock after buying an additional 410,163 shares during the quarter. OraSure Technologies comprises approximately 2.4% of Gagnon Advisors LLC's investment portfolio, making the stock its 19th largest holding. Gagnon Advisors LLC owned about 1.61% of OraSure Technologies worth $3,622,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Private Management Group Inc. purchased a new position in OraSure Technologies during the 1st quarter worth $14,886,000. American Century Companies Inc. raised its stake in OraSure Technologies by 6.8% in the 1st quarter. American Century Companies Inc. now owns 2,505,124 shares of the medical instruments supplier's stock valued at $8,442,000 after acquiring an additional 159,287 shares during the period. Bridgeway Capital Management LLC raised its stake in OraSure Technologies by 32.9% in the 1st quarter. Bridgeway Capital Management LLC now owns 1,635,275 shares of the medical instruments supplier's stock valued at $5,511,000 after acquiring an additional 405,169 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of OraSure Technologies by 39.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 1,290,554 shares of the medical instruments supplier's stock valued at $4,349,000 after buying an additional 363,946 shares during the period. Finally, Gagnon Securities LLC bought a new stake in shares of OraSure Technologies during the first quarter valued at about $3,619,000. Institutional investors and hedge funds own 93.50% of the company's stock.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (d)" rating on shares of OraSure Technologies in a report on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average target price of $3.00.

OraSure Technologies Trading Down 1.3%

NASDAQ OSUR opened at $3.16 on Wednesday. OraSure Technologies, Inc. has a 12 month low of $2.36 and a 12 month high of $4.60. The stock has a market cap of $231.12 million, a P/E ratio of -4.72 and a beta of 0.46. The stock's fifty day moving average price is $3.13 and its 200-day moving average price is $3.04.

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.

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