Investors Buy Large Volume of Call Options on OraSure Technologies (NASDAQ:OSUR)

OraSure Technologies, Inc. (NASDAQ:OSUR) was the recipient of some unusual options trading activity on Monday. Traders acquired 7,517 call options on the stock. This is an increase of 1,165% compared to the average daily volume of 594 call options.

OraSure Technologies Trading Up 0.1%

NASDAQ OSUR traded up $0.01 during mid-day trading on Monday, hitting $4.46. The company’s stock had a trading volume of 637,090 shares, compared to its average volume of 586,107. The company’s 50 day simple moving average is $3.63 and its 200 day simple moving average is $3.09. OraSure Technologies has a twelve month low of $2.08 and a twelve month high of $4.58. The firm has a market capitalization of $307.42 million, a price-to-earnings ratio of -4.29 and a beta of 1.02.

Insider Buying and Selling at OraSure Technologies

In related news, Director Steven Kyle Boyd acquired 25,000 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were purchased at an average price of $2.99 per share, for a total transaction of $74,750.00. Following the completion of the acquisition, the director owned 113,462 shares of the company’s stock, valued at approximately $339,251.38. This trade represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Kotler Kevin bought a new stake in shares of OraSure Technologies during the fourth quarter worth about $4,359,000. Altai Capital Management L.P. lifted its position in OraSure Technologies by 73.4% in the 3rd quarter. Altai Capital Management L.P. now owns 3,748,836 shares of the medical instruments supplier’s stock valued at $12,034,000 after acquiring an additional 1,586,488 shares in the last quarter. Millennium Management LLC boosted its stake in OraSure Technologies by 71.1% during the 3rd quarter. Millennium Management LLC now owns 2,112,507 shares of the medical instruments supplier’s stock valued at $6,781,000 after purchasing an additional 878,151 shares during the last quarter. Yorkville Advisors Global LP acquired a new position in OraSure Technologies during the 1st quarter valued at about $1,905,000. Finally, Archon Capital Management LLC bought a new stake in OraSure Technologies during the 4th quarter worth approximately $1,388,000. 93.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings raised OraSure Technologies from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, OraSure Technologies presently has a consensus rating of “Reduce” and a consensus price target of $3.00.

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.