OraSure Technologies (NASDAQ:OSUR) Stock Passes Above 200 Day Moving Average – Should You Sell?

OraSure Technologies, Inc. (NASDAQ:OSUR)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.90 and traded as high as $4.19. OraSure Technologies shares last traded at $4.15, with a volume of 808,637 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised OraSure Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, OraSure Technologies currently has a consensus rating of “Reduce” and an average price target of $3.00.

OraSure Technologies Stock Down 5.0%

The stock has a market capitalization of $277.47 million, a P/E ratio of -3.88 and a beta of 1.02. The business has a fifty day moving average price of $3.34 and a 200-day moving average price of $2.93.

Insider Activity

In other news, CEO Manner Carrie Eglinton bought 32,300 shares of the stock in a transaction on Friday, March 20th. The shares were bought at an average price of $2.93 per share, with a total value of $94,639.00. Following the completion of the acquisition, the chief executive officer owned 2,190,874 shares in the company, valued at $6,419,260.82. The trade was a 1.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kenneth J. Mcgrath bought 32,300 shares of the stock in a transaction on Friday, March 20th. The stock was purchased at an average cost of $2.93 per share, for a total transaction of $94,639.00. Following the acquisition, the chief financial officer owned 589,562 shares of the company’s stock, valued at $1,727,416.66. This trade represents a 5.80% increase in their position. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 158,643 shares of company stock valued at $470,657 over the last ninety days. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Sei Investments Co. lifted its holdings in OraSure Technologies by 126.9% in the first quarter. Sei Investments Co. now owns 417,958 shares of the medical instruments supplier’s stock valued at $1,254,000 after acquiring an additional 233,732 shares during the period. Yorkville Advisors Global LP bought a new position in shares of OraSure Technologies in the first quarter worth about $1,905,000. IMC Chicago LLC bought a new position in shares of OraSure Technologies in the first quarter worth about $71,000. Diversify Wealth Management LLC bought a new position in shares of OraSure Technologies in the first quarter worth about $36,000. Finally, Hsbc Holdings PLC raised its stake in shares of OraSure Technologies by 4.6% in the first quarter. Hsbc Holdings PLC now owns 141,309 shares of the medical instruments supplier’s stock worth $421,000 after buying an additional 6,218 shares during the period. Institutional investors own 93.50% of the company’s stock.

OraSure Technologies Company Profile

OraSure Technologies, Inc is a Bethlehem, Pennsylvania–based diagnostic and medical device company specializing in the development, manufacture and commercialization of point-of-care and self-testing products. Founded in 1988, OraSure has built a portfolio of oral fluid and other non-invasive specimen collection technologies that support the detection of infectious diseases, drugs of abuse, and health and wellness biomarkers.

The company’s flagship product, the OraQuick® rapid HIV test, was the first Food and Drug Administration–approved over-the-counter oral fluid test for the detection of HIV-1/2 antibodies.