Oramed Pharmaceuticals (NASDAQ:ORMP) Shares Cross Above Fifty Day Moving Average – Here’s Why

Shares of Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $2.37 and traded as high as $2.49. Oramed Pharmaceuticals shares last traded at $2.49, with a volume of 158,176 shares.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ORMP shares. HC Wainwright reissued a “neutral” rating on shares of Oramed Pharmaceuticals in a report on Monday, September 9th. StockNews.com downgraded Oramed Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, December 2nd.

Oramed Pharmaceuticals Stock Down 0.8 %

The stock has a fifty day moving average price of $2.37 and a two-hundred day moving average price of $2.39. The company has a market cap of $99.57 million, a price-to-earnings ratio of 22.45 and a beta of 1.70.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Murchinson Ltd. raised its position in shares of Oramed Pharmaceuticals by 0.5% in the third quarter. Murchinson Ltd. now owns 1,708,879 shares of the biotechnology company’s stock valued at $4,170,000 after buying an additional 8,889 shares in the last quarter. XTX Topco Ltd grew its position in Oramed Pharmaceuticals by 59.7% during the third quarter. XTX Topco Ltd now owns 24,716 shares of the biotechnology company’s stock worth $60,000 after buying an additional 9,242 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Oramed Pharmaceuticals by 52.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 31,470 shares of the biotechnology company’s stock worth $81,000 after acquiring an additional 10,774 shares during the period. Renaissance Technologies LLC raised its holdings in Oramed Pharmaceuticals by 89.0% in the 2nd quarter. Renaissance Technologies LLC now owns 230,800 shares of the biotechnology company’s stock valued at $593,000 after acquiring an additional 108,700 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Oramed Pharmaceuticals during the 3rd quarter valued at $272,000. Institutional investors and hedge funds own 12.73% of the company’s stock.

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.