OraSure Technologies (NASDAQ:OSUR) Shares Pass Above Two Hundred Day Moving Average – Here’s Why

OraSure Technologies, Inc. (NASDAQ:OSUR)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.98 and traded as high as $4.36. OraSure Technologies shares last traded at $4.32, with a volume of 657,834 shares traded.

Analyst Upgrades and Downgrades

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

OraSure Technologies Price Performance

The firm has a market capitalization of $292.61 million, a P/E ratio of -4.09 and a beta of 1.02. The firm’s fifty day moving average price is $3.48 and its 200-day moving average price is $3.01.

Insider Buying and Selling at OraSure Technologies

In other news, CFO Kenneth J. Mcgrath acquired 32,300 shares of the company’s stock in a transaction dated 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 purchase, the chief financial officer owned 589,562 shares of the company’s stock, valued at approximately $1,727,416.66. This represents a 5.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven Kyle Boyd acquired 25,000 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was purchased at an average price of $2.99 per share, with a total value of $74,750.00. Following the acquisition, the director 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 disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders bought 114,600 shares of company stock valued at $338,528. 4.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in OraSure Technologies in the fourth quarter worth about $28,000. Prudential Financial Inc. bought a new position in shares of OraSure Technologies during the 2nd quarter valued at about $31,000. Diversify Wealth Management LLC bought a new position in shares of OraSure Technologies during the 1st quarter valued at about $36,000. Amundi acquired a new position in shares of OraSure Technologies in the 1st quarter worth approximately $47,000. Finally, SG Americas Securities LLC grew its stake in shares of OraSure Technologies by 77.7% in the 4th quarter. SG Americas Securities LLC now owns 19,748 shares of the medical instruments supplier’s stock worth $48,000 after purchasing an additional 8,632 shares during the last quarter. Institutional investors own 93.50% of the company’s stock.

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.