Oramed Pharmaceuticals (NASDAQ:ORMP) Shares Pass Below Two Hundred Day Moving Average - Here's Why

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP - Get Free Report) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.24 and traded as low as $2.10. Oramed Pharmaceuticals shares last traded at $2.12, with a volume of 38,553 shares traded.

Analyst Upgrades and Downgrades

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

Oramed Pharmaceuticals Stock Performance

The firm has a market cap of $86.60 million, a price-to-earnings ratio of -4.82 and a beta of 1.59. The firm's 50 day moving average is $2.18 and its 200-day moving average is $2.24.

Oramed Pharmaceuticals (NASDAQ:ORMP - Get Free Report) last released its quarterly 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. As a group, research analysts predict that Oramed Pharmaceuticals Inc. will post -0.03 EPS for the current year.

Institutional Trading of Oramed Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in shares of Oramed Pharmaceuticals by 143.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 118,995 shares of the biotechnology company's stock valued at $288,000 after acquiring an additional 70,190 shares during the period. Boothbay Fund Management LLC boosted its stake in shares of Oramed Pharmaceuticals by 2.0% in the 4th quarter. Boothbay Fund Management LLC now owns 845,188 shares of the biotechnology company's stock valued at $2,045,000 after buying an additional 16,857 shares during the period. Peapod Lane Capital LLC increased its position in Oramed Pharmaceuticals by 11.0% during the first quarter. Peapod Lane Capital LLC now owns 252,224 shares of the biotechnology company's stock worth $540,000 after buying an additional 24,985 shares during the period. Jane Street Group LLC boosted its stake in shares of Oramed Pharmaceuticals by 35.3% in the first quarter. Jane Street Group LLC now owns 67,173 shares of the biotechnology company's stock valued at $144,000 after buying an additional 17,510 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Oramed Pharmaceuticals by 36.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 18,799 shares of the biotechnology company's stock valued at $41,000 after acquiring an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 12.73% of the company's stock.

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.

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