OraSure Technologies, Inc. $OSUR Shares Purchased by Gagnon Securities LLC

Key Points

• Gagnon Securities LLC has significantly increased its stake in OraSure Technologies by 49.4%, now holding approximately 1.6 million shares worth about $4.81 million.
• The stock has been given a consensus rating of "Reduce" with an average price target of $3.00 from analysts, with one research firm restating a "sell" rating.
• As of the latest report, around 93.5% of OraSure Technologies' stock is owned by institutional investors and hedge funds, indicating strong institutional backing.

Gagnon Securities LLC increased its position in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 49.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,604,142 shares of the medical instruments supplier's stock after purchasing an additional 530,371 shares during the period. OraSure Technologies accounts for about 1.0% of Gagnon Securities LLC's holdings, making the stock its 28th biggest holding. Gagnon Securities LLC owned approximately 2.14% of OraSure Technologies worth $4,812,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Private Management Group Inc. acquired a new position in shares of OraSure Technologies in the first quarter valued at approximately $14,886,000. Gagnon Advisors LLC acquired a new position in shares of OraSure Technologies in the first quarter valued at approximately $2,687,000. Bridgeway Capital Management LLC grew its holdings in shares of OraSure Technologies by 32.9% in the first quarter. Bridgeway Capital Management LLC now owns 1,635,275 shares of the medical instruments supplier's stock valued at $5,511,000 after purchasing an additional 405,169 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of OraSure Technologies by 39.3% in 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 purchasing an additional 363,946 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of OraSure Technologies by 111.1% in the first quarter. Russell Investments Group Ltd. now owns 676,334 shares of the medical instruments supplier's stock valued at $2,279,000 after purchasing an additional 355,915 shares in the last quarter. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

OraSure Technologies Stock Down 1.3%

Shares of OraSure Technologies stock opened at $3.16 on Wednesday. OraSure Technologies, Inc. has a 52-week low of $2.36 and a 52-week high of $4.60. The company has a 50 day moving average of $3.13 and a 200 day moving average of $3.04. The company has a market capitalization of $231.12 million, a P/E ratio of -4.72 and a beta of 0.46.

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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