ExodusPoint Capital Management LP Acquires 153,681 Shares of OraSure Technologies, Inc. (NASDAQ:OSUR)

ExodusPoint Capital Management LP raised its holdings in OraSure Technologies, Inc. (NASDAQ:OSUR) by 1,007.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 168,941 shares of the medical instruments supplier’s stock after acquiring an additional 153,681 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.23% of OraSure Technologies worth $610,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Principal Financial Group Inc. increased its holdings in OraSure Technologies by 10.7% in the fourth quarter. Principal Financial Group Inc. now owns 73,137 shares of the medical instruments supplier’s stock valued at $264,000 after purchasing an additional 7,077 shares during the period. Franklin Resources Inc. grew its position in shares of OraSure Technologies by 28.5% in the 3rd quarter. Franklin Resources Inc. now owns 269,269 shares of the medical instruments supplier’s stock valued at $1,091,000 after buying an additional 59,723 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of OraSure Technologies by 5.8% in the third quarter. JPMorgan Chase & Co. now owns 847,933 shares of the medical instruments supplier’s stock valued at $3,621,000 after buying an additional 46,216 shares during the period. Barclays PLC raised its position in shares of OraSure Technologies by 182.6% during the third quarter. Barclays PLC now owns 195,793 shares of the medical instruments supplier’s stock worth $836,000 after acquiring an additional 126,503 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in shares of OraSure Technologies in the fourth quarter worth approximately $287,000. Institutional investors own 93.50% of the company’s stock.

OraSure Technologies Stock Down 0.3 %

OSUR stock opened at $2.93 on Friday. The firm has a market cap of $219.16 million, a price-to-earnings ratio of 19.53 and a beta of 0.76. The company’s fifty day simple moving average is $3.49 and its 200 day simple moving average is $3.78. OraSure Technologies, Inc. has a 12-month low of $2.69 and a 12-month high of $5.75.

OraSure Technologies declared that its Board of Directors has initiated a stock buyback program on Monday, March 24th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the medical instruments supplier to purchase up to 15.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of OraSure Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th.

Insider Transactions at OraSure Technologies

In other OraSure Technologies news, CFO Kenneth J. Mcgrath purchased 64,000 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $3.15 per share, with a total value of $201,600.00. Following the completion of the purchase, the chief financial officer now owns 371,013 shares in the company, valued at $1,168,690.95. This represents a 20.85 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John P. Kenny purchased 47,659 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were acquired at an average price of $3.17 per share, for a total transaction of $151,079.03. Following the completion of the acquisition, the director now directly owns 70,915 shares in the company, valued at approximately $224,800.55. This represents a 204.93 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 190,284 shares of company stock valued at $600,348. Corporate insiders own 3.40% of the company’s stock.

About OraSure Technologies

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.