OraSure Technologies (NASDAQ:OSUR) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Shares of OraSure Technologies, Inc. (NASDAQ:OSUR) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.26 and traded as high as $4.32. OraSure Technologies shares last traded at $4.25, with a volume of 296,428 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings raised 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, OraSure Technologies currently has a consensus rating of “Reduce” and an average target price of $3.00.

OraSure Technologies Stock Down 0.2%

The company has a market cap of $292.61 million, a P/E ratio of -4.09 and a beta of 1.01. The business’s 50 day moving average is $3.95 and its 200 day moving average is $3.26.

Insider Activity

In related news, Director Steven Kyle Boyd purchased 25,000 shares of OraSure Technologies stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $2.99 per share, with a total value of $74,750.00. Following the transaction, the director owned 113,462 shares in the company, valued at approximately $339,251.38. The trade was a 28.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On OraSure Technologies

Institutional investors have recently added to or reduced their stakes in the stock. Marquette Asset Management LLC purchased a new position in OraSure Technologies in the second quarter valued at about $601,000. Sei Investments Co. lifted its position in shares of OraSure Technologies by 126.9% during the first quarter. Sei Investments Co. now owns 417,958 shares of the medical instruments supplier’s stock valued at $1,254,000 after buying an additional 233,732 shares during the last quarter. Yorkville Advisors Global LP purchased a new stake in shares of OraSure Technologies during the first quarter valued at about $1,905,000. IMC Chicago LLC bought a new stake in shares of OraSure Technologies in the 1st quarter valued at about $71,000. Finally, Diversify Wealth Management LLC bought a new stake in shares of OraSure Technologies in the 1st quarter valued at about $36,000. Institutional investors own 93.50% of the company’s stock.

OraSure Technologies Company Profile

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.