Oramed Pharmaceuticals (NASDAQ:ORMP) Share Price Crosses Below 200-Day Moving Average – Time to Sell?

Shares of Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.37 and traded as low as $2.17. Oramed Pharmaceuticals shares last traded at $2.17, with a volume of 116,824 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Oramed Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday.

Oramed Pharmaceuticals Stock Down 1.8 %

The company has a market capitalization of $87.48 million, a P/E ratio of 19.73 and a beta of 1.66. The business has a fifty day moving average price of $2.36 and a 200 day moving average price of $2.37.

Hedge Funds Weigh In On Oramed Pharmaceuticals

Large investors have recently bought and sold shares of the company. World Equity Group Inc. bought a new stake in shares of Oramed Pharmaceuticals in the fourth quarter worth $48,000. XTX Topco Ltd increased its stake in Oramed Pharmaceuticals by 59.7% in the 3rd quarter. XTX Topco Ltd now owns 24,716 shares of the biotechnology company’s stock valued at $60,000 after buying an additional 9,242 shares during the last quarter. Marquette Asset Management LLC bought a new stake in Oramed Pharmaceuticals during the 4th quarter worth about $81,000. Dimensional Fund Advisors LP boosted its stake in shares of Oramed Pharmaceuticals by 52.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 31,470 shares of the biotechnology company’s stock worth $81,000 after buying an additional 10,774 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Oramed Pharmaceuticals in the 3rd quarter valued at about $272,000. Institutional investors and hedge funds 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.