Short Interest in Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) Declines By 37.0%

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Oramed Pharmaceuticals Inc. (NASDAQ:ORMP - Get Free Report) was the recipient of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 367,600 shares, a decline of 37.0% from the March 31st total of 583,900 shares. Based on an average daily volume of 168,800 shares, the days-to-cover ratio is presently 2.2 days.

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Hedge Funds Weigh In On Oramed Pharmaceuticals

Large investors have recently modified their holdings of the stock. BML Capital Management LLC increased its holdings in 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 buying an additional 480,267 shares in the last quarter. Rathbones Group PLC bought a new stake in Oramed Pharmaceuticals in the 3rd quarter worth about $756,000. Assenagon Asset Management S.A. bought a new stake in Oramed Pharmaceuticals in the 1st quarter worth about $54,000. Barclays PLC increased its holdings in Oramed Pharmaceuticals by 39.0% in the 3rd quarter. Barclays PLC now owns 18,406 shares of the biotechnology company's stock worth $47,000 after buying an additional 5,167 shares in the last quarter. Finally, Algert Global LLC bought a new stake in Oramed Pharmaceuticals in the 3rd quarter worth about $38,000. Hedge funds and other institutional investors own 12.73% of the company's stock.

Oramed Pharmaceuticals Stock Performance

Shares of ORMP traded up $0.16 during trading hours on Friday, hitting $2.46. The company had a trading volume of 84,595 shares, compared to its average volume of 105,635. The firm has a fifty day moving average price of $2.83 and a 200-day moving average price of $2.47. The stock has a market capitalization of $99.68 million, a price-to-earnings ratio of 17.57 and a beta of 1.81. Oramed Pharmaceuticals has a 52-week low of $1.67 and a 52-week high of $5.25.

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Oramed Pharmaceuticals (NASDAQ:ORMP - Get Free Report) last posted its quarterly earnings results on Wednesday, March 6th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.04. Research analysts anticipate that Oramed Pharmaceuticals will post -0.26 earnings per share for the current fiscal year.

About Oramed Pharmaceuticals

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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.

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