OraSure Technologies (NASDAQ:OSUR) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

OraSure Technologies, Inc. (NASDAQ:OSUR)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.26 and traded as high as $4.32. OraSure Technologies shares last traded at $4.25, with a volume of 296,428 shares.

Analysts Set New Price Targets

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 analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $3.00.

OraSure Technologies Stock Down 2.4%

The stock has a market cap of $266.17 million, a price-to-earnings ratio of -3.74 and a beta of 1.01. The company’s 50-day simple moving average is $3.97 and its 200-day simple moving average is $3.27.

Insider Activity

In related news, Director Steven Kyle Boyd bought 25,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The shares were bought at an average cost of $2.99 per share, with a total value of $74,750.00. Following the completion of the transaction, the director directly owned 113,462 shares of the company’s stock, valued at approximately $339,251.38. This trade represents a 28.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 4.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On OraSure Technologies

A number of hedge funds and other institutional investors have recently modified their holdings of OSUR. Prudential Financial Inc. purchased a new position in OraSure Technologies in the 2nd quarter worth about $31,000. Quadrature Capital Ltd acquired a new position in shares of OraSure Technologies in the fourth quarter worth about $28,000. Diversify Wealth Management LLC acquired a new position in shares of OraSure Technologies in the first quarter worth about $36,000. Amundi purchased a new position in shares of OraSure Technologies in the first quarter worth approximately $47,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of OraSure Technologies by 102.2% during the third quarter. BNP Paribas Financial Markets now owns 15,275 shares of the medical instruments supplier’s stock valued at $49,000 after acquiring an additional 7,720 shares during the period. Institutional investors and hedge funds 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.