Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) Sees Significant Drop in Short Interest

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) was the recipient of a large decline in short interest in December. As of December 31st, there was short interest totalling 242,300 shares, a decline of 16.8% from the December 15th total of 291,400 shares. Based on an average daily volume of 144,800 shares, the short-interest ratio is presently 1.7 days.

Oramed Pharmaceuticals Stock Performance

Shares of NASDAQ ORMP traded down $0.04 during mid-day trading on Friday, hitting $2.28. 137,563 shares of the stock traded hands, compared to its average volume of 145,480. The company has a market cap of $91.91 million, a price-to-earnings ratio of 20.73 and a beta of 1.67. The stock has a fifty day moving average price of $2.38 and a 200-day moving average price of $2.40. Oramed Pharmaceuticals has a 52 week low of $2.00 and a 52 week high of $3.67.

Institutional Trading of Oramed Pharmaceuticals

Hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new position in shares of Oramed Pharmaceuticals in the 2nd quarter worth about $40,000. Dimensional Fund Advisors LP grew its holdings in Oramed Pharmaceuticals by 52.1% in the second quarter. Dimensional Fund Advisors LP now owns 31,470 shares of the biotechnology company’s stock worth $81,000 after purchasing an additional 10,774 shares during the period. Marquette Asset Management LLC bought a new position in shares of Oramed Pharmaceuticals during the fourth quarter valued at approximately $81,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Oramed Pharmaceuticals during the third quarter valued at approximately $272,000. Finally, Renaissance Technologies LLC boosted its position in shares of Oramed Pharmaceuticals by 89.0% in the 2nd quarter. Renaissance Technologies LLC now owns 230,800 shares of the biotechnology company’s stock worth $593,000 after purchasing an additional 108,700 shares in the last quarter. Institutional investors own 12.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Oramed Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, January 13th.

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.