Oramed Pharmaceuticals (NASDAQ:ORMP) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.38 and traded as low as $2.18. Oramed Pharmaceuticals shares last traded at $2.30, with a volume of 106,083 shares trading hands.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ORMP. HC Wainwright restated a “neutral” rating on shares of Oramed Pharmaceuticals in a report on Monday, September 9th. StockNews.com lowered shares of Oramed Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, November 11th.

Oramed Pharmaceuticals Trading Up 6.0 %

The business has a fifty day moving average of $2.37 and a 200-day moving average of $2.38. The company has a market cap of $92.71 million, a PE ratio of 4.51 and a beta of 1.77.

Hedge Funds Weigh In On Oramed Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. XTX Topco Ltd increased its position in Oramed Pharmaceuticals by 59.7% during the 3rd quarter. XTX Topco Ltd now owns 24,716 shares of the biotechnology company’s stock valued at $60,000 after purchasing an additional 9,242 shares during the period. Murchinson Ltd. boosted its stake in shares of Oramed Pharmaceuticals by 0.5% during the 3rd quarter. Murchinson Ltd. now owns 1,708,879 shares of the biotechnology company’s stock valued at $4,170,000 after purchasing an additional 8,889 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Oramed Pharmaceuticals during the third quarter valued at about $272,000. BML Capital Management LLC raised its stake in Oramed Pharmaceuticals by 62.1% in the third quarter. BML Capital Management LLC now owns 2,186,191 shares of the biotechnology company’s stock worth $5,334,000 after buying an additional 837,153 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Oramed Pharmaceuticals by 89.0% in the second quarter. Renaissance Technologies LLC now owns 230,800 shares of the biotechnology company’s stock worth $593,000 after buying an additional 108,700 shares during the period. Institutional investors own 12.73% of the company’s stock.

Oramed Pharmaceuticals Company Profile

Oramed Pharmaceuticals Inc engages in the research and development of pharmaceutical solutions for the treatment of diabetes and for the use of orally ingestible capsules for delivery of polypeptides. The company's product portfolio includes ORMD-0801, an oral insulin capsule, which is in phase III clinical trial for the treatment of individuals with diabetes, as well as in phase II clinical trial for the treatment of non-alcoholic steatohepatitis; and ORA-D-013-1 and ORA-D-013-2, which have completed phase II clinical trial for the treatment of type 2 diabetes.