Oramed Pharmaceuticals (NASDAQ:ORMP) Stock Price Passes Below Two Hundred Day Moving Average – Here’s Why

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP)’s stock price crossed 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 trading 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 Price Performance

The firm has a market cap of $90.29 million, a PE ratio of 20.36 and a beta of 1.67. The business has a fifty day moving average price of $2.38 and a two-hundred day moving average price of $2.39.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BML Capital Management LLC boosted its stake in shares of Oramed Pharmaceuticals by 62.1% during 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 buying an additional 837,153 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Oramed Pharmaceuticals during the third quarter worth $272,000. Dimensional Fund Advisors LP boosted its position in Oramed Pharmaceuticals by 52.1% during the second quarter. Dimensional Fund Advisors LP now owns 31,470 shares of the biotechnology company’s stock valued at $81,000 after purchasing an additional 10,774 shares during the last quarter. XTX Topco Ltd grew its stake in Oramed Pharmaceuticals by 59.7% in the third 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 in the last quarter. Finally, Marquette Asset Management LLC acquired a new position in Oramed Pharmaceuticals in the 4th quarter worth about $81,000. 12.73% of the stock is owned by hedge funds and other institutional investors.

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.