Gagnon Securities LLC Makes New Investment in OraSure Technologies, Inc. (NASDAQ:OSUR)

Gagnon Securities LLC purchased a new position in OraSure Technologies, Inc. (NASDAQ:OSUR) during the first quarter, Holdings Channel.com reports. The fund purchased 1,073,771 shares of the medical instruments supplier’s stock, valued at approximately $3,619,000.

A number of other hedge funds also recently modified their holdings of OSUR. Raymond James Financial Inc. bought a new stake in shares of OraSure Technologies in the 4th quarter worth approximately $37,000. Orion Portfolio Solutions LLC raised its holdings in shares of OraSure Technologies by 10.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 61,170 shares of the medical instruments supplier’s stock worth $221,000 after purchasing an additional 5,929 shares during the period. Geode Capital Management LLC raised its holdings in shares of OraSure Technologies by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 1,844,139 shares of the medical instruments supplier’s stock worth $6,659,000 after purchasing an additional 46,325 shares during the period. ExodusPoint Capital Management LP raised its holdings in shares of OraSure Technologies by 1,007.1% in the 4th quarter. ExodusPoint Capital Management LP now owns 168,941 shares of the medical instruments supplier’s stock worth $610,000 after purchasing an additional 153,681 shares during the period. Finally, Invesco Ltd. raised its holdings in shares of OraSure Technologies by 3.4% in the 4th quarter. Invesco Ltd. now owns 127,526 shares of the medical instruments supplier’s stock worth $460,000 after purchasing an additional 4,240 shares during the period. Institutional investors own 93.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Wall Street Zen raised shares of OraSure Technologies from a “sell” rating to a “hold” rating in a report on Saturday, May 17th. Evercore ISI reiterated an “in-line” rating and issued a $3.00 price objective on shares of OraSure Technologies in a research note on Monday, May 19th.

OraSure Technologies Trading Down 8.3%

OraSure Technologies stock opened at $2.86 on Thursday. OraSure Technologies, Inc. has a 1-year low of $2.36 and a 1-year high of $4.92. The firm has a market capitalization of $213.93 million, a price-to-earnings ratio of -4.27 and a beta of 0.27. The firm has a 50 day simple moving average of $3.05 and a 200 day simple moving average of $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.