Point72 Asia Singapore Pte. Ltd. Sells 14,690 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

Point72 Asia Singapore Pte. Ltd. cut its stake in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) by 22.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,442 shares of the medical instruments supplier’s stock after selling 14,690 shares during the quarter. Point72 Asia Singapore Pte. Ltd. owned approximately 0.07% of OraSure Technologies worth $178,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC grew its holdings in OraSure Technologies by 23.1% in the fourth quarter. Renaissance Technologies LLC now owns 2,774,443 shares of the medical instruments supplier’s stock worth $10,016,000 after purchasing an additional 521,400 shares during the period. American Century Companies Inc. grew its holdings in OraSure Technologies by 11.4% in the fourth quarter. American Century Companies Inc. now owns 2,345,837 shares of the medical instruments supplier’s stock worth $8,468,000 after purchasing an additional 240,224 shares during the period. Millennium Management LLC grew its holdings in OraSure Technologies by 16.7% in the fourth quarter. Millennium Management LLC now owns 2,158,450 shares of the medical instruments supplier’s stock worth $7,792,000 after purchasing an additional 308,420 shares during the period. Geode Capital Management LLC grew its holdings in OraSure Technologies by 2.6% in the fourth 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. Finally, D. E. Shaw & Co. Inc. grew its holdings in OraSure Technologies by 180.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,517,541 shares of the medical instruments supplier’s stock worth $5,478,000 after purchasing an additional 976,475 shares during the period. 93.50% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Kenneth J. Mcgrath purchased 64,000 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were acquired at an average cost of $3.15 per share, for a total transaction of $201,600.00. Following the completion of the acquisition, the chief financial officer now owns 371,013 shares in the company, valued at $1,168,690.95. This trade represents a 20.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Manner Carrie Eglinton purchased 78,625 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were purchased at an average price of $3.15 per share, for a total transaction of $247,668.75. Following the completion of the acquisition, the chief executive officer now owns 1,259,664 shares of the company’s stock, valued at $3,967,941.60. The trade was a 6.66% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 190,284 shares of company stock worth $600,348 over the last three months. 3.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of OraSure Technologies from a “sell” rating to a “hold” rating in a report on Saturday.

OraSure Technologies Price Performance

Shares of NASDAQ OSUR opened at $2.43 on Friday. The stock has a market capitalization of $181.76 million, a P/E ratio of 16.20 and a beta of 0.42. The company has a 50-day moving average price of $3.08 and a 200-day moving average price of $3.57. OraSure Technologies, Inc. has a 1 year low of $2.36 and a 1 year high of $5.24.

OraSure Technologies declared that its board has authorized a stock repurchase program on Monday, March 24th that permits the company to buyback $40.00 million in outstanding shares. This buyback authorization permits the medical instruments supplier to purchase up to 15.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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.