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Oramed Pharmaceuticals (NASDAQ:ORMP) Raised to Hold at StockNews.com

Oramed Pharmaceuticals logo with Medical background

Oramed Pharmaceuticals (NASDAQ:ORMP - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a note issued to investors on Monday.

Oramed Pharmaceuticals Price Performance

Shares of NASDAQ:ORMP traded down $0.03 during trading hours on Monday, hitting $2.36. The company's stock had a trading volume of 176,406 shares, compared to its average volume of 108,429. The firm's fifty day moving average price is $2.38 and its 200 day moving average price is $2.41. Oramed Pharmaceuticals has a 52 week low of $2.00 and a 52 week high of $3.67. The company has a market capitalization of $95.14 million, a price-to-earnings ratio of 21.45 and a beta of 1.67.

Institutional Investors Weigh In On Oramed Pharmaceuticals

A number of hedge funds have recently made changes to their positions in ORMP. Murchinson Ltd. grew its holdings in Oramed Pharmaceuticals by 23.2% in the second quarter. Murchinson Ltd. now owns 1,699,990 shares of the biotechnology company's stock worth $4,369,000 after purchasing an additional 320,495 shares during the last quarter. BML Capital Management LLC boosted its position in shares of 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 purchasing an additional 837,153 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Oramed Pharmaceuticals in the 3rd quarter worth $272,000. Dimensional Fund Advisors LP grew its stake in 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, XTX Topco Ltd acquired a new position in Oramed Pharmaceuticals during the 2nd quarter valued at about $40,000. 12.73% of the stock is currently owned by hedge funds and other institutional investors.

About Oramed Pharmaceuticals

(Get Free Report)

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.

Further Reading

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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