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

ExodusPoint Capital Management LP boosted its stake in OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 1,007.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,941 shares of the medical instruments supplier's stock after purchasing 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 filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in OraSure Technologies during the fourth quarter valued at approximately $37,000. AXQ Capital LP purchased a new position in shares of OraSure Technologies during the 4th quarter valued at $51,000. US Bancorp DE increased its holdings in shares of OraSure Technologies by 310.4% in the fourth quarter. US Bancorp DE now owns 19,433 shares of the medical instruments supplier's stock worth $70,000 after purchasing an additional 14,698 shares during the period. Aigen Investment Management LP purchased a new stake in shares of OraSure Technologies in the fourth quarter worth $76,000. Finally, SG Americas Securities LLC bought a new stake in OraSure Technologies during the fourth quarter valued at $205,000. 93.50% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Manner Carrie Eglinton acquired 78,625 shares of OraSure Technologies stock in a transaction that occurred on Thursday, February 27th. The stock was bought at an average price of $3.15 per share, with a total value of $247,668.75. Following the transaction, the chief executive officer now directly owns 1,259,664 shares in the company, valued at approximately $3,967,941.60. This represents a 6.66 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John P. Kenny bought 47,659 shares of the firm's stock in a transaction on Thursday, February 27th. The stock was purchased at an average cost of $3.17 per share, with a total value of $151,079.03. Following the completion of the acquisition, the director now directly owns 70,915 shares of the company's stock, valued at approximately $224,800.55. The trade was a 204.93 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 190,284 shares of company stock valued at $600,348. Insiders own 3.40% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered OraSure Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th.

OraSure Technologies Price Performance

NASDAQ OSUR traded up $0.05 during trading on Thursday, hitting $2.97. 191,945 shares of the company's stock traded hands, compared to its average volume of 878,323. The firm has a market cap of $221.78 million, a P/E ratio of 19.77 and a beta of 0.76. The stock has a fifty day moving average of $3.44 and a two-hundred day moving average of $3.76. OraSure Technologies, Inc. has a 12-month low of $2.69 and a 12-month high of $5.59.

OraSure Technologies announced that its board has initiated a stock buyback program on Monday, March 24th that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the medical instruments supplier to purchase up to 15.6% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.

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.