Oramed Pharmaceuticals (NASDAQ:ORMP) Stock Crosses Below 200 Day Moving Average - Here's What Happened

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP - Get Free Report) shares passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.29 and traded as low as $2.24. Oramed Pharmaceuticals shares last traded at $2.26, with a volume of 124,880 shares.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Oramed Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, May 17th.

Oramed Pharmaceuticals Stock Performance

The firm has a market capitalization of $90.69 million, a P/E ratio of 20.18 and a beta of 1.65. The business has a 50 day simple moving average of $2.21 and a two-hundred day simple moving average of $2.29.

Oramed Pharmaceuticals (NASDAQ:ORMP - Get Free Report) last announced its earnings results on Thursday, May 15th. The biotechnology company reported ($0.19) earnings per share for the quarter, missing analysts' consensus estimates of ($0.03) by ($0.16). The business had revenue of $2.00 million during the quarter. On average, equities analysts anticipate that Oramed Pharmaceuticals Inc. will post -0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Oramed Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC increased its position in shares of Oramed Pharmaceuticals by 52.9% during the 1st quarter. N.E.W. Advisory Services LLC now owns 18,900 shares of the biotechnology company's stock valued at $40,000 after purchasing an additional 6,540 shares during the last quarter. World Equity Group Inc. bought a new position in shares of Oramed Pharmaceuticals during the 4th quarter valued at about $48,000. Jane Street Group LLC increased its position in shares of Oramed Pharmaceuticals by 35.3% during the 1st quarter. Jane Street Group LLC now owns 67,173 shares of the biotechnology company's stock valued at $144,000 after purchasing an additional 17,510 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Oramed Pharmaceuticals by 143.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 118,995 shares of the biotechnology company's stock valued at $288,000 after purchasing an additional 70,190 shares during the last quarter. Finally, Peapod Lane Capital LLC bought a new position in shares of Oramed Pharmaceuticals during the 4th quarter valued at about $550,000. 12.73% of the stock is currently owned by 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.