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

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) shares crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.32 and traded as low as $2.23. Oramed Pharmaceuticals shares last traded at $2.29, with a volume of 63,993 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Oramed Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, February 19th.

Oramed Pharmaceuticals Price Performance

The company has a market cap of $93.55 million, a PE ratio of 20.82 and a beta of 1.50. The business’s 50 day moving average is $2.25 and its 200-day moving average is $2.32.

Oramed Pharmaceuticals (NASDAQ:ORMP) last released its quarterly earnings data on Thursday, March 27th. The biotechnology company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.04. As a group, sell-side analysts predict that Oramed Pharmaceuticals Inc. will post -0.03 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Boothbay Fund Management LLC increased its stake in Oramed Pharmaceuticals by 2.0% in the fourth quarter. Boothbay Fund Management LLC now owns 845,188 shares of the biotechnology company’s stock valued at $2,045,000 after purchasing an additional 16,857 shares during the last quarter. World Equity Group Inc. acquired a new stake in Oramed Pharmaceuticals during the 4th quarter worth $48,000. Marquette Asset Management LLC purchased a new stake in Oramed Pharmaceuticals in the fourth quarter valued at $81,000. Dimensional Fund Advisors LP grew its holdings in shares of Oramed Pharmaceuticals by 143.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 118,995 shares of the biotechnology company’s stock worth $288,000 after purchasing an additional 70,190 shares during the last quarter. Finally, Peapod Lane Capital LLC purchased a new position in shares of Oramed Pharmaceuticals during the fourth quarter worth about $550,000. 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.