Oramed Pharmaceuticals (NASDAQ:ORMP) Shares Cross Above Fifty Day Moving Average – Should You Sell?

Shares of Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $2.37 and traded as high as $2.49. Oramed Pharmaceuticals shares last traded at $2.49, with a volume of 158,176 shares changing hands.

Analyst Ratings Changes

A number of research firms recently weighed in on ORMP. HC Wainwright reaffirmed a “neutral” rating on shares of Oramed Pharmaceuticals in a research report on Monday, September 9th. StockNews.com downgraded Oramed Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, December 2nd.

Oramed Pharmaceuticals Trading Up 1.2 %

The business’s 50 day simple moving average is $2.37 and its two-hundred day simple moving average is $2.38. The firm has a market capitalization of $100.37 million, a P/E ratio of 22.64 and a beta of 1.70.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ORMP. BML Capital Management LLC increased its holdings in Oramed Pharmaceuticals by 62.1% in the 3rd quarter. BML Capital Management LLC now owns 2,186,191 shares of the biotechnology company’s stock worth $5,334,000 after buying an additional 837,153 shares in the last quarter. Murchinson Ltd. boosted its holdings in shares of Oramed Pharmaceuticals by 23.2% during the 2nd quarter. Murchinson Ltd. now owns 1,699,990 shares of the biotechnology company’s stock valued at $4,369,000 after acquiring an additional 320,495 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Oramed Pharmaceuticals during the 3rd quarter valued at about $272,000. Renaissance Technologies LLC grew its stake in shares of Oramed Pharmaceuticals by 89.0% in the second quarter. Renaissance Technologies LLC now owns 230,800 shares of the biotechnology company’s stock worth $593,000 after acquiring an additional 108,700 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Oramed Pharmaceuticals during the second quarter valued at approximately $40,000. Hedge funds and other institutional investors own 12.73% of the company’s stock.

About Oramed Pharmaceuticals

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.