Oramed Pharmaceuticals Inc. (ORMP) Sets New 1-Year High at $9.62
Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) shares hit a new 52-week high on Wednesday . The company traded as high as $9.62 and last traded at $9.64, with a volume of 181,083 shares trading hands. The stock had previously closed at $8.87.
ORMP has been the topic of several analyst reports. HC Wainwright set a $25.00 price target on Oramed Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, May 22nd. ValuEngine upgraded Oramed Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday.
The company’s market cap is $125.21 million. The company has a 50-day moving average of $8.24 and a 200-day moving average of $7.47.
In related news, Director Xiaopeng Li acquired 89,636 shares of Oramed Pharmaceuticals stock in a transaction dated Wednesday, August 2nd. The shares were acquired at an average cost of $8.50 per share, for a total transaction of $761,906.00. Following the completion of the transaction, the director now directly owns 206,350 shares of the company’s stock, valued at $1,753,975. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 27.50% of the stock is owned by corporate insiders.
A hedge fund recently raised its stake in Oramed Pharmaceuticals stock. Wells Fargo & Company MN increased its holdings in shares of Oramed Pharmaceuticals Inc. (NASDAQ:ORMP) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,725 shares of the biotechnology company’s stock after buying an additional 625 shares during the quarter. Wells Fargo & Company MN owned about 0.11% of Oramed Pharmaceuticals worth $114,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 1.34% of the company’s stock.
About Oramed Pharmaceuticals
Oramed Pharmaceuticals Inc (Oramed) is engaged in the field of oral delivery solutions for drugs and vaccines presently delivered via injection. Oramed’s flagship product, an orally ingestible insulin capsule in phase II clinical trials, is focused on the treatment of diabetes. The Company is developing orally ingestible protein oral delivery (POD) technology for the delivery of drugs presently administered by way of injection.
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