Oramed Pharmaceuticals (NASDAQ:ORMP) Shares Cross Below Two Hundred Day Moving Average – Here’s Why

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.39 and traded as low as $2.18. Oramed Pharmaceuticals shares last traded at $2.20, with a volume of 73,060 shares changing hands.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Oramed Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, January 13th.

Oramed Pharmaceuticals Stock Performance

The company has a market cap of $88.68 million, a P/E ratio of 20.00 and a beta of 1.67. The business’s 50-day moving average price is $2.38 and its 200 day moving average price is $2.39.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. BML Capital Management LLC boosted its holdings in Oramed Pharmaceuticals by 62.1% in the 3rd quarter. BML Capital Management LLC now owns 2,186,191 shares of the biotechnology company’s stock valued at $5,334,000 after purchasing an additional 837,153 shares during the period. Murchinson Ltd. lifted its position 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 acquiring an additional 8,889 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Oramed Pharmaceuticals by 89.0% during the 2nd quarter. Renaissance Technologies LLC now owns 230,800 shares of the biotechnology company’s stock worth $593,000 after purchasing an additional 108,700 shares in the last quarter. Peapod Lane Capital LLC bought a new position in shares of Oramed Pharmaceuticals in the fourth quarter worth $550,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Oramed Pharmaceuticals in the third quarter valued at about $272,000. Institutional investors and hedge funds 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.