Bridgeway Capital Management LLC Grows Position in OraSure Technologies, Inc. $OSUR

Key Points

• Bridgeway Capital Management LLC has increased its stake in OraSure Technologies by 32.9%, now owning approximately 2.19% of the company, worth about $5.5 million.
• Shares of OraSure Technologies currently trade at around $3.15, with a market capitalization of $230.39 million, and analysts maintain a consensus rating of "Hold" with a target price of $3.00.
• A significant portion of OraSure's shares, approximately 93.50%, are held by institutional investors and hedge funds, indicating strong institutional interest.

Bridgeway Capital Management LLC grew its position in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 32.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,635,275 shares of the medical instruments supplier's stock after purchasing an additional 405,169 shares during the period. Bridgeway Capital Management LLC owned approximately 2.19% of OraSure Technologies worth $5,511,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Private Management Group Inc. purchased a new position in OraSure Technologies in the first quarter valued at about $14,886,000. Gagnon Securities LLC acquired a new position in shares of OraSure Technologies during the first quarter valued at $3,619,000. D. E. Shaw & Co. Inc. raised its position in shares of 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 valued at $5,478,000 after acquiring an additional 976,475 shares during the last quarter. Gagnon Advisors LLC bought a new position in OraSure Technologies during the first quarter worth about $2,687,000. Finally, Systematic Financial Management LP raised its stake in OraSure Technologies by 33.7% during the 4th quarter. Systematic Financial Management LP now owns 1,673,609 shares of the medical instruments supplier's stock worth $6,042,000 after buying an additional 421,497 shares during the period. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently commented on OSUR shares. Wall Street Zen raised OraSure Technologies from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. Evercore ISI restated an "in-line" rating and set a $3.00 price objective on shares of OraSure Technologies in a research note on Monday, May 19th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $3.00.

OraSure Technologies Price Performance

NASDAQ:OSUR traded down $0.06 on Wednesday, reaching $3.30. 74,664 shares of the company's stock were exchanged, compared to its average volume of 748,533. OraSure Technologies, Inc. has a 52 week low of $2.36 and a 52 week high of $4.60. The firm has a market cap of $240.99 million, a price-to-earnings ratio of -4.93 and a beta of 0.44. The stock has a fifty day simple moving average of $3.11 and a 200-day simple moving average of $3.07.

OraSure Technologies Company 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.