Jacobs Levy Equity Management Inc. Acquires 363,946 Shares of OraSure Technologies, Inc. $OSUR

Key Points

• Jacobs Levy Equity Management Inc. increased its stake in OraSure Technologies by 39.3%, now owning 1,290,554 shares valued at approximately $4,349,000.
• Other institutional investors, including Tower Research Capital and Raymond James Financial, have also recently modified their holdings, leading to a total of 93.50% institutional ownership in the company.
• OraSure Technologies' stock has seen analysts’ ratings generally hold steady, with a consensus target price of $3.00 and a current trading price around $3.25.

Jacobs Levy Equity Management Inc. boosted its position in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 39.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,290,554 shares of the medical instruments supplier's stock after buying an additional 363,946 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.73% of OraSure Technologies worth $4,349,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC raised its holdings in OraSure Technologies by 32.9% during the 1st quarter. Bridgeway Capital Management LLC now owns 1,635,275 shares of the medical instruments supplier's stock valued at $5,511,000 after buying an additional 405,169 shares during the last quarter. AQR Capital Management LLC raised its holdings in OraSure Technologies by 48.3% during the 1st quarter. AQR Capital Management LLC now owns 1,041,875 shares of the medical instruments supplier's stock valued at $3,511,000 after buying an additional 339,493 shares during the last quarter. Amundi bought a new position in OraSure Technologies in the 1st quarter worth $47,000. Altai Capital Management L.P. bought a new position in OraSure Technologies in the 1st quarter worth $532,000. Finally, Quantbot Technologies LP bought a new position in OraSure Technologies in the 1st quarter worth $52,000. 93.50% of the stock is currently owned by institutional investors.

OraSure Technologies Stock Performance

Shares of OraSure Technologies stock traded down $0.01 during trading on Friday, hitting $3.31. The company's stock had a trading volume of 274,664 shares, compared to its average volume of 567,031. The company has a fifty day simple moving average of $3.12 and a two-hundred day simple moving average of $3.06. The company has a market capitalization of $242.09 million, a PE ratio of -4.94 and a beta of 0.44. OraSure Technologies, Inc. has a 52 week low of $2.36 and a 52 week high of $4.60.

Analyst Upgrades and Downgrades

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

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.