Balyasny Asset Management L.P. Invests $257,000 in OraSure Technologies, Inc. (NASDAQ:OSUR)

Balyasny Asset Management L.P. bought a new position in OraSure Technologies, Inc. (NASDAQ:OSUR) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 71,091 shares of the medical instruments supplier’s stock, valued at approximately $257,000.

Other hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in shares of OraSure Technologies by 202.3% in the 4th 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 in the last quarter. Causeway Capital Management LLC acquired a new position in shares of OraSure Technologies in the 4th quarter worth approximately $36,000. Raymond James Financial Inc. acquired a new position in shares of OraSure Technologies in the 4th quarter worth approximately $37,000. Boothbay Fund Management LLC acquired a new position in shares of OraSure Technologies in the 4th quarter worth approximately $42,000. Finally, AXQ Capital LP acquired a new position in shares of OraSure Technologies in the 4th quarter worth approximately $51,000. 93.50% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com raised OraSure Technologies from a “sell” rating to a “hold” rating in a report on Saturday.

Insider Activity at OraSure Technologies

In other news, Director John P. Kenny bought 47,659 shares of the stock in a transaction dated Thursday, February 27th. The stock was bought at an average cost of $3.17 per share, with a total value of $151,079.03. Following the purchase, the director now owns 70,915 shares of the company’s stock, valued at approximately $224,800.55. This represents a 204.93% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Manner Carrie Eglinton bought 78,625 shares of the stock in a transaction dated Thursday, February 27th. The stock was purchased at an average cost of $3.15 per share, with a total value 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 approximately $3,967,941.60. This trade represents a 6.66% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 190,284 shares of company stock valued at $600,348 in the last three months. Corporate insiders own 3.90% of the company’s stock.

OraSure Technologies Price Performance

OSUR stock opened at $2.43 on Friday. The business has a fifty day moving average price of $3.08 and a 200 day moving average price of $3.56. OraSure Technologies, Inc. has a fifty-two week low of $2.36 and a fifty-two week high of $5.08. The stock has a market capitalization of $181.76 million, a price-to-earnings ratio of 16.20 and a beta of 0.42.

OraSure Technologies announced that its board has approved a stock buyback plan 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 plans are often a sign that the company’s board believes its shares are undervalued.

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.