Oramed Pharmaceuticals (NASDAQ:ORMP) Stock Passes Below 200 Day Moving Average of $2.55

Shares of Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.55 and traded as low as $2.14. Oramed Pharmaceuticals shares last traded at $2.24, with a volume of 110,802 shares traded.

Analysts Set New Price Targets

Separately, HC Wainwright reissued a “neutral” rating on shares of Oramed Pharmaceuticals in a report on Monday, May 20th.

Oramed Pharmaceuticals Trading Up 0.4 %

The company has a 50-day moving average of $2.30 and a 200-day moving average of $2.55. The firm has a market capitalization of $91.01 million, a price-to-earnings ratio of 8.62 and a beta of 1.80.

Oramed Pharmaceuticals (NASDAQ:ORMP) last issued its earnings results on Thursday, May 9th. The biotechnology company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.02. On average, research analysts forecast that Oramed Pharmaceuticals Inc. will post -0.01 earnings per share for the current year.

Hedge Funds Weigh In On Oramed Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BML Capital Management LLC lifted its holdings in shares of Oramed Pharmaceuticals by 61.5% in the 4th quarter. BML Capital Management LLC now owns 1,261,559 shares of the biotechnology company’s stock worth $2,914,000 after purchasing an additional 480,267 shares during the last quarter. Murchinson Ltd. increased its position in Oramed Pharmaceuticals by 31.4% in the first quarter. Murchinson Ltd. now owns 1,379,495 shares of the biotechnology company’s stock worth $4,028,000 after buying an additional 329,495 shares during the period. Virtu Financial LLC bought a new stake in Oramed Pharmaceuticals in the first quarter valued at $68,000. Assenagon Asset Management S.A. acquired a new position in shares of Oramed Pharmaceuticals during the first quarter valued at $54,000. Finally, Algert Global LLC acquired a new position in shares of Oramed Pharmaceuticals during the third quarter valued at $38,000. 12.73% of the stock is currently owned by institutional investors and hedge funds.

About Oramed Pharmaceuticals

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.