Because OraSure Technologies, Inc. (NASDAQ:OSUR) has experienced falling interest from hedge fund managers, logic holds that there were a few hedge funds that decided to sell off their entire stakes heading into Q4. Intriguingly, Stephen DuBois’ Camber Capital Management cut the biggest stake of all the hedgies tracked by Insider Monkey, worth about $4.2 million in stock, and Chuck Royce’s Royce & Associates was right behind this move, as the fund dropped about $3.7 million worth of shares. These bearish behaviors are interesting, as total hedge fund interest fell by 2 funds heading into Q4.
Let’s now take a look at hedge fund activity in other stocks similar to OraSure Technologies, Inc. (NASDAQ:OSUR). We will take a look at U.S. Lime & Minerals Inc. (NASDAQ:USLM), Adamas Pharmaceuticals Inc (NASDAQ:ADMS), Aerohive Networks Inc (NYSE:HIVE), and IDT Corporation (NYSE:IDT). This group of stocks’ market caps resemble OSUR’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 10.25 hedge funds with bullish positions and the average amount invested in these stocks was $51 million. That figure was $74 million in OSUR’s case. Adamas Pharmaceuticals Inc (NASDAQ:ADMS) is the most popular stock in this table. On the other hand U.S. Lime & Minerals Inc. (NASDAQ:USLM) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks OraSure Technologies, Inc. (NASDAQ:OSUR) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.