Assenagon Asset Management S.A. Increases Stock Position in OraSure Technologies, Inc. (NASDAQ:OSUR)

Assenagon Asset Management S.A. increased its stake in shares of OraSure Technologies, Inc. (NASDAQ:OSUR) by 9.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 164,260 shares of the medical instruments supplier’s stock after buying an additional 14,132 shares during the period. Assenagon Asset Management S.A. owned about 0.22% of OraSure Technologies worth $554,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its holdings in OraSure Technologies by 202.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,821 shares of the medical instruments supplier’s stock worth $28,000 after buying an additional 5,234 shares during the last quarter. Causeway Capital Management LLC purchased a new stake in OraSure Technologies during the fourth quarter worth about $36,000. Raymond James Financial Inc. purchased a new stake in OraSure Technologies during the fourth quarter worth about $37,000. Boothbay Fund Management LLC purchased a new stake in OraSure Technologies during the fourth quarter worth about $42,000. Finally, Gotham Asset Management LLC purchased a new position in shares of OraSure Technologies in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Evercore ISI reiterated an “in-line” rating and issued a $3.00 target price on shares of OraSure Technologies in a research note on Monday, May 19th. Wall Street Zen upgraded shares of OraSure Technologies from a “sell” rating to a “hold” rating in a research report on Saturday, May 17th.

OraSure Technologies Trading Up 2.5%

OSUR stock opened at $2.88 on Friday. OraSure Technologies, Inc. has a 12 month low of $2.36 and a 12 month high of $4.92. The firm has a market capitalization of $215.42 million, a P/E ratio of -6.86 and a beta of 0.43. The firm has a 50 day moving average of $2.83 and a 200-day moving average of $3.37.

OraSure Technologies announced that its Board of Directors has authorized a share buyback program on Monday, March 24th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the medical instruments supplier to purchase up to 15.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

OraSure Technologies 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.