Gagnon Securities LLC Takes Position in OraSure Technologies, Inc. (NASDAQ:OSUR)

Key Points

• Gagnon Securities LLC took a significant position in OraSure Technologies, acquiring over 1 million shares worth approximately $3.6 million, reflecting a 1.39% ownership stake in the company.
• Multiple institutional investors, including Tower Research Capital and Causeway Capital Management, increased their holdings or acquired new stakes in OraSure Technologies, highlighting strong interest from the investment community.
• Wall Street analysts have mixed ratings on OraSure Technologies, with Evercore ISI maintaining an "in-line" rating and a target price of $3.00, while Wall Street Zen upgraded the stock from "sell" to "hold."

Gagnon Securities LLC acquired a new stake in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 1,073,771 shares of the medical instruments supplier's stock, valued at approximately $3,619,000. Gagnon Securities LLC owned 1.39% of OraSure Technologies at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tower Research Capital LLC TRC lifted its stake in shares of OraSure Technologies by 202.3% in the 4th 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 acquired a new stake in shares of OraSure Technologies in the 4th quarter valued at about $36,000. Raymond James Financial Inc. acquired a new stake in shares of OraSure Technologies in the 4th quarter valued at about $37,000. Boothbay Fund Management LLC acquired a new stake in shares of OraSure Technologies in the 4th quarter valued at about $42,000. Finally, Gotham Asset Management LLC acquired a new stake in shares of OraSure Technologies in the 4th quarter valued at about $43,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

OSUR has been the subject of several research reports. Evercore ISI restated an "in-line" rating and issued a $3.00 target price on shares of OraSure Technologies in a research note on Monday, May 19th. Wall Street Zen upgraded OraSure Technologies from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th.

OraSure Technologies Stock Performance

Shares of NASDAQ OSUR opened at $2.86 on Thursday. OraSure Technologies, Inc. has a fifty-two week low of $2.36 and a fifty-two week high of $4.92. The stock has a market cap of $213.93 million, a price-to-earnings ratio of -4.27 and a beta of 0.27. The firm's 50-day simple moving average is $3.05 and its 200 day simple moving average is $3.22.

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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