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

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) passed 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 $2.34. Oramed Pharmaceuticals shares last traded at $2.35, with a volume of 36,845 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently commented on ORMP shares. HC Wainwright reiterated a “neutral” rating on shares of Oramed Pharmaceuticals in a research report on Monday, September 9th. StockNews.com upgraded Oramed Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd.

Oramed Pharmaceuticals Price Performance

The company has a market capitalization of $95.81 million, a price-to-earnings ratio of 4.61 and a beta of 1.77. The stock has a fifty day simple moving average of $2.39 and a 200-day simple moving average of $2.38.

Oramed Pharmaceuticals (NASDAQ:ORMP) last announced its quarterly earnings results on Wednesday, August 14th. The biotechnology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.21. As a group, equities analysts expect that Oramed Pharmaceuticals Inc. will post 0.24 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Murchinson Ltd. lifted its holdings in Oramed Pharmaceuticals by 23.2% in the second quarter. Murchinson Ltd. now owns 1,699,990 shares of the biotechnology company’s stock valued at $4,369,000 after acquiring an additional 320,495 shares during the period. Virtu Financial LLC acquired a new position in Oramed Pharmaceuticals in the first quarter valued at approximately $68,000. Dimensional Fund Advisors LP raised its stake in shares of 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 buying an additional 10,774 shares during the period. XTX Topco Ltd acquired a new position in shares of Oramed Pharmaceuticals during the 2nd quarter worth approximately $40,000. Finally, Renaissance Technologies LLC raised its stake 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 buying an additional 108,700 shares during the period. 12.73% of the stock is owned by institutional investors and hedge funds.

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.