OraSure Technologies Inc (NASDAQ:OSUR)
OraSure Technologies, Inc. (OSUR), a global company that develops, manufactures, markets, and sells oral fluid diagnostic products yesterday announced that they will joining the S&P Small Cap 600. The company will be officially added to the Small Cap 600 index on Thursday March 23.
OraSure Technologies, Inc. CEO’s Comments
Comments from March 1st regarding its HIV self test receiving Global Fund Classification “We are pleased to have received the endorsement of the Global Fund’s Expert Panel,” said Douglas A. Michels, President and CEO of OraSure Technologies. “The classification enables government organizations implementing HIV self-test pilots and programs to access funding for the OraQuick® HIV Self-Test. We expect the OraQuick® HIV Self-Test to be a valuable tool in reducing HIV infection rates globally. The Global Fund’s action allows for the procurement of our test while we pursue WHO prequalification.” Globe Newswire
OSUR Technical Analysis
OSUR opened trading yesterday at $10.84 which was down from the previous day’s trading close of $10.86. Shares closed trading yesterday at $10.89 and spiked up after market to $11.70, equivalent to a 4% increase from the closing price. Taking a look at the daily chart we can see that the last time OSUR traded above these levels we have to go all the way back to March 3rd, when it traded at $11.80.
Taking a closer look at the daily chart we can see that before the spike up OSUR had already been in an overall upward trend dating back to November 4th, 2016 when it traded at $7.10. OSUR has a float of 49.8 million shares and traded below the normal daily trading volume on Monday.
For trading purposes, I would like to see OSUR open trading on Tuesday above $11.50 and if it does I would be looking to take a long position at the bell. My stop loss would be $0.15 from my entry position fearing anything more than that and the stock would start to fill in the gap up.
Company Profile
OraSure Technologies, Inc., together with its subsidiaries, develops, manufactures, markets, and sells oral fluid diagnostic products and specimen collection devices in the United States, Europe, and internationally.
It operates in two segments, OSUR and DNAG. The company also offers other diagnostic products, such as immunoassays and other in vitro diagnostic tests. Its principal products include OraQuick ADVANCE HIV-1/2, OraQuick HIV–1/2, OraQuick HIV self-test, OraQuick HCV, OraQuick In-Home HIV test, OraQuick Ebola, OraQuick Zika, OraSure QuickFlu rapid flu A&B test, OraSure, Oragene DX, Oragene DNA, Oragene RNA, ORAcollect, OMNIgene DISCOVER, Performagene LIVESTOCK and Oragene ANIMAL, OMNIgene GUT, OMNIgene SPUTUM, PrepIT MAX, OMNIgene VAGINAL, OMNIgene ORAL, PrepIT, Intercept, MICRO-PLATE DOA assays, Intercept i2, homogeneous DOA assays, and professional and over-the-counter cryosurgical systems.
In addition, the company offers oral fluid collection devices to collect, stabilize, transport, and store samples of genetic material for molecular testing in the consumer genetic, clinical genetic, pharmacogenomics, personalized medicine, microbiome and animal genetics, and academic research markets.
Further, it provides medical devices for the removal of benign skin lesions by cryosurgery or freezing; immunoassay tests and reagents for insurance risk assessment, substance abuse testing, and forensic toxicology applications; an oral fluid Western blot HIV-1 confirmatory test for confirming positive HIV-1 test; and Q.E.D. rapid point-of-care saliva alcohol test.
The company markets its products to clinical laboratories, hospitals, clinics, community-based organizations, public health organizations, distributors, government agencies, physicians’ offices, commercial and industrial entities, retail pharmacies, mass merchandisers, and consumers. OraSure Technologies, Inc. was founded in 1979 and is based in Bethlehem, Pennsylvania.