OraSure Technologies (NASDAQ:OSUR) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

OraSure Technologies, Inc. (NASDAQ:OSUR) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.18 and traded as high as $4.40. OraSure Technologies shares last traded at $4.32, with a volume of 496,215 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of 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. Based on data from MarketBeat, OraSure Technologies currently has a consensus rating of “Reduce” and an average target price of $3.00.

OraSure Technologies Stock Down 1.1%

The company has a market capitalization of $297.43 million, a P/E ratio of -4.15 and a beta of 1.01. The business has a 50 day simple moving average of $3.80 and a 200-day simple moving average of $3.18.

Insiders Place Their Bets

In other OraSure Technologies news, Director Steven Kyle Boyd purchased 25,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average price of $2.99 per share, with a total value of $74,750.00. Following the completion of the acquisition, the director owned 113,462 shares in the company, valued at approximately $339,251.38. This represents a 28.26% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.70% of the stock is currently owned by corporate insiders.

Institutional Trading of OraSure Technologies

Large investors have recently added to or reduced their stakes in the business. Kotler Kevin bought a new stake in OraSure Technologies during the 4th quarter valued at $4,359,000. Altai Capital Management L.P. increased its holdings in shares of OraSure Technologies by 73.4% during the third quarter. Altai Capital Management L.P. now owns 3,748,836 shares of the medical instruments supplier’s stock valued at $12,034,000 after purchasing an additional 1,586,488 shares during the period. Millennium Management LLC increased its holdings in shares of OraSure Technologies by 71.1% during the third quarter. Millennium Management LLC now owns 2,112,507 shares of the medical instruments supplier’s stock valued at $6,781,000 after purchasing an additional 878,151 shares during the period. Yorkville Advisors Global LP bought a new stake in shares of OraSure Technologies during the first quarter valued at about $1,905,000. Finally, Archon Capital Management LLC bought a new stake in shares of OraSure Technologies during the fourth quarter valued at about $1,388,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

About OraSure Technologies

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.