Gagnon Advisors LLC Takes $2.69 Million Position in OraSure Technologies, Inc. (NASDAQ:OSUR)

Key Points

• Gagnon Advisors LLC acquired 797,277 shares of OraSure Technologies for approximately $2.69 million, representing 1.9% of their investment portfolio.
• Institutional investors own 93.50% of OraSure Technologies' stock, indicating significant interest from financial entities.
• Shares of OraSure Technologies recently traded at $2.74, down 4.2%, with a market cap of $204.95 million and a P/E ratio of -4.09.

Gagnon Advisors LLC acquired a new stake in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 797,277 shares of the medical instruments supplier's stock, valued at approximately $2,687,000. OraSure Technologies makes up about 1.9% of Gagnon Advisors LLC's portfolio, making the stock its 21st largest holding. Gagnon Advisors LLC owned approximately 1.03% of OraSure Technologies at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Tower Research Capital LLC TRC grew its holdings in OraSure Technologies by 202.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,821 shares of the medical instruments supplier's stock valued at $28,000 after purchasing an additional 5,234 shares during the period. Causeway Capital Management LLC purchased a new stake in shares of OraSure Technologies during the fourth quarter worth $36,000. Raymond James Financial Inc. purchased a new stake in shares of OraSure Technologies during the fourth quarter worth $37,000. Boothbay Fund Management LLC purchased a new stake in shares of OraSure Technologies during the fourth quarter worth $42,000. Finally, Gotham Asset Management LLC purchased a new stake in shares of OraSure Technologies during the fourth quarter worth $43,000. Institutional investors own 93.50% of the company's stock.

Analyst Upgrades and Downgrades

OSUR has been the topic of a number of 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 reaffirmed an "in-line" rating and set a $3.00 price objective on shares of OraSure Technologies in a research report on Monday, May 19th.

OraSure Technologies Trading Up 2.7%

Shares of NASDAQ:OSUR traded up $0.08 during trading on Tuesday, reaching $2.87. The company's stock had a trading volume of 178,954 shares, compared to its average volume of 768,023. OraSure Technologies, Inc. has a 12 month low of $2.36 and a 12 month high of $4.61. The firm's 50 day simple moving average is $3.04 and its two-hundred day simple moving average is $3.18. The stock has a market capitalization of $209.55 million, a PE ratio of -4.32 and a beta of 0.27.

About OraSure Technologies

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.