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

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

Wall Street Analysts Forecast Growth

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

Oramed Pharmaceuticals Stock Performance

NASDAQ ORMP traded down $0.02 during trading on Thursday, reaching $2.32. 74,588 shares of the company traded hands, compared to its average volume of 97,629. Oramed Pharmaceuticals has a 1-year low of $2.00 and a 1-year high of $3.67. The company has a market cap of $93.52 million, a price-to-earnings ratio of 21.09 and a beta of 1.67. The stock’s 50 day moving average price is $2.38 and its two-hundred day moving average price is $2.41.

Institutional Trading of Oramed Pharmaceuticals

Several institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd acquired a new position in Oramed Pharmaceuticals during the second quarter worth $40,000. Marquette Asset Management LLC bought a new position in Oramed Pharmaceuticals during the 4th quarter valued at about $81,000. Dimensional Fund Advisors LP lifted its holdings 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 valued at $81,000 after purchasing an additional 10,774 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Oramed Pharmaceuticals in the third quarter valued at about $272,000. Finally, Renaissance Technologies LLC grew its stake in Oramed Pharmaceuticals by 89.0% during the second quarter. Renaissance Technologies LLC now owns 230,800 shares of the biotechnology company’s stock worth $593,000 after buying an additional 108,700 shares during the last quarter. Institutional investors and hedge funds 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.