OraSure Technologies, Inc. (NASDAQ:OSUR) is Archon Capital Management LLC's 10th Largest Position

Archon Capital Management LLC raised its position in shares of OraSure Technologies, Inc. (NASDAQ:OSUR - Free Report) by 145.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 827,777 shares of the medical instruments supplier's stock after acquiring an additional 490,034 shares during the quarter. OraSure Technologies makes up about 2.9% of Archon Capital Management LLC's holdings, making the stock its 10th largest holding. Archon Capital Management LLC owned 1.11% of OraSure Technologies worth $2,988,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in OSUR. Raymond James Financial Inc. acquired a new stake in shares of OraSure Technologies in the 4th quarter worth $37,000. AXQ Capital LP purchased a new position in shares of OraSure Technologies during the 4th quarter worth approximately $51,000. RPO LLC purchased a new stake in shares of OraSure Technologies in the 4th quarter valued at $56,000. US Bancorp DE boosted its stake 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 valued at $70,000 after purchasing an additional 14,698 shares during the period. Finally, Aigen Investment Management LP acquired a new position in shares of OraSure Technologies in the fourth quarter valued at approximately $76,000. Hedge funds and other institutional investors own 93.50% of the company's stock.

Analysts Set New Price Targets

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

OraSure Technologies Trading Up 2.3 %

Shares of OraSure Technologies stock traded up $0.07 during trading on Thursday, reaching $2.99. The company's stock had a trading volume of 318,982 shares, compared to its average volume of 878,725. The company has a 50-day moving average price of $3.44 and a two-hundred day moving average price of $3.76. OraSure Technologies, Inc. has a fifty-two week low of $2.69 and a fifty-two week high of $5.59. The firm has a market cap of $223.35 million, a PE ratio of 19.90 and a beta of 0.76.

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

Insider Buying and Selling

In related news, CFO Kenneth J. Mcgrath acquired 64,000 shares of OraSure Technologies stock in a transaction dated Thursday, February 27th. The shares were acquired at an average cost of $3.15 per share, for a total transaction of $201,600.00. Following the completion of the transaction, the chief financial officer now directly owns 371,013 shares of the company's stock, valued at $1,168,690.95. The trade was a 20.85 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Manner Carrie Eglinton purchased 78,625 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $3.15 per share, for a total transaction of $247,668.75. Following the completion of the purchase, the chief executive officer now directly owns 1,259,664 shares in the company, valued at $3,967,941.60. The trade was a 6.66 % increase in their ownership of the stock. 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. 3.40% of the stock is owned by insiders.

OraSure Technologies Company Profile

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.