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

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.35 and traded as low as $2.31. Oramed Pharmaceuticals shares last traded at $2.33, with a volume of 30,850 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Oramed Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, February 19th.

Oramed Pharmaceuticals Trading Down 0.4 %

The stock has a fifty day moving average of $2.30 and a two-hundred day moving average of $2.35. The stock has a market capitalization of $93.93 million, a price-to-earnings ratio of 21.18 and a beta of 1.61.

Institutional Trading of Oramed Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in ORMP. World Equity Group Inc. acquired a new position in shares of Oramed Pharmaceuticals during the fourth quarter worth approximately $48,000. XTX Topco Ltd grew its stake in shares of Oramed Pharmaceuticals by 59.7% during the third quarter. XTX Topco Ltd now owns 24,716 shares of the biotechnology company’s stock worth $60,000 after purchasing an additional 9,242 shares during the period. Marquette Asset Management LLC acquired a new position in shares of Oramed Pharmaceuticals during the 4th quarter worth about $81,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Oramed Pharmaceuticals in the 3rd quarter valued at about $272,000. Finally, Dimensional Fund Advisors LP raised its position in shares of Oramed Pharmaceuticals by 143.8% in the 4th 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. 12.73% of the stock is currently 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.