Gagnon Advisors LLC Takes 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 purchased a new position in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 797,277 shares of the medical instruments supplier's stock, valued at approximately $2,687,000. OraSure Technologies comprises 1.9% of Gagnon Advisors LLC's holdings, making the stock its 21st biggest holding. Gagnon Advisors LLC owned about 1.03% of OraSure Technologies as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in OSUR. Private Management Group Inc. purchased a new position in OraSure Technologies during the 1st quarter worth approximately $14,886,000. Gagnon Securities LLC purchased a new position in OraSure Technologies during the 1st quarter worth approximately $3,619,000. D. E. Shaw & Co. Inc. grew its stake in OraSure Technologies by 180.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,517,541 shares of the medical instruments supplier's stock worth $5,478,000 after buying an additional 976,475 shares during the last quarter. Renaissance Technologies LLC grew its stake in OraSure Technologies by 23.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,774,443 shares of the medical instruments supplier's stock worth $10,016,000 after buying an additional 521,400 shares during the last quarter. Finally, Archon Capital Management LLC grew its stake in OraSure Technologies by 145.1% during the 4th quarter. Archon Capital Management LLC now owns 827,777 shares of the medical instruments supplier's stock worth $2,988,000 after buying an additional 490,034 shares during the last quarter. Hedge funds and other institutional investors own 93.50% of the company's stock.

OraSure Technologies Stock Performance

OraSure Technologies stock traded up $0.04 during mid-day trading on Friday, reaching $2.78. 547,602 shares of the company were exchanged, compared to its average volume of 762,809. OraSure Technologies, Inc. has a twelve month low of $2.36 and a twelve 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 $3.20. The firm has a market cap of $203.32 million, a PE ratio of -4.15 and a beta of 0.27.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on OSUR shares. Wall Street Zen raised 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 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.