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

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP)’s share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.33 and traded as low as $2.20. Oramed Pharmaceuticals shares last traded at $2.27, with a volume of 118,026 shares.

Wall Street Analysts Forecast Growth

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

Oramed Pharmaceuticals Stock Performance

The business has a 50 day simple moving average of $2.27 and a 200-day simple moving average of $2.33. The firm has a market capitalization of $92.73 million, a price-to-earnings ratio of 20.64 and a beta of 1.50.

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. Equities analysts predict that Oramed Pharmaceuticals Inc. will post -0.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. BML Capital Management LLC increased its stake in Oramed Pharmaceuticals by 20.9% during the fourth quarter. BML Capital Management LLC now owns 2,643,907 shares of the biotechnology company’s stock worth $6,398,000 after acquiring an additional 457,716 shares during the last quarter. Boothbay Fund Management LLC grew its holdings in shares of Oramed Pharmaceuticals by 2.0% during the 4th quarter. Boothbay Fund Management LLC now owns 845,188 shares of the biotechnology company’s stock worth $2,045,000 after purchasing an additional 16,857 shares during the period. Peapod Lane Capital LLC acquired a new stake in shares of Oramed Pharmaceuticals during the 4th quarter worth about $550,000. Dimensional Fund Advisors LP raised its holdings in 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 buying an additional 70,190 shares during the period. Finally, Marquette Asset Management LLC acquired a new position in Oramed Pharmaceuticals in the fourth quarter valued at about $81,000. 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.