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

Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) was the recipient of a large drop in short interest in 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 short-interest ratio is presently 1.7 days.

Oramed Pharmaceuticals Stock Performance

ORMP traded down $0.04 on Friday, hitting $2.28. 137,563 shares of the company were exchanged, compared to its average volume of 145,480. Oramed Pharmaceuticals has a 12 month low of $2.00 and a 12 month high of $3.67. The firm has a fifty day simple moving average of $2.38 and a two-hundred day simple moving average of $2.40. The stock has a market capitalization of $91.91 million, a PE ratio of 20.73 and a beta of 1.67.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Oramed Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. BML Capital Management LLC boosted its holdings in shares of Oramed Pharmaceuticals by 62.1% during the third 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 during the period. Murchinson Ltd. raised its position in 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 purchasing an additional 320,495 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Oramed Pharmaceuticals during the 3rd quarter valued at approximately $272,000. Renaissance Technologies LLC lifted its holdings in 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 buying an additional 108,700 shares during the period. Finally, Marquette Asset Management LLC bought a new stake in shares of Oramed Pharmaceuticals in the 4th quarter worth approximately $81,000. 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.