Yes, sort of
If you're pregnant and it's neg, it's probably more likely that your urinary levels of HCG aren't yet elevated enough to be detected.
The over-the-counter tests aren't always as sensitive as tests at your doctor's office. Best to recheck 1-2 wks later if you're late for your period & suspect you might be pregnant. Also if you're levels get too high, they can cause a false negative on the test.